PP Closed PharmaGap closes private placement for $70,774
2012-01-11 16:29 ET - News Release
Mr. Robert McInnis reports
PHARMAGAP COMPLETES $70,774 PRIVATE PLACEMENT
PharmaGap Inc. has completed a private offering of 1,010,777 equity units at a price of seven cents per unit for gross aggregate proceeds of $70,774.
Each unit consists of one common share and one warrant to purchase one common share at an exercise price of 10 cents per common share with a three-year warrant term. The closing of this private placement is subject to the approval of the TSX Venture Exchange, and the shares and warrants issued pursuant to the private placement are restricted from trading for four months from the date of closing.
In connection with this private placement, cash finders' fees in the total amount of $3,406 will be paid to individuals dealing at arm's length to PharmaGap.