PharmaGap Inc V.GAP

PP Closed

[SchiffKnowsBest]

 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.

[paddy99]

$70K!!! And how much did we get from the BMO Change Counter?

[theKid5]

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.I sure hope these shares went to people within the company. I would like to think that people in the know wanted to line their pockets with cheap shares before the news comes out. I cant see it worth while to raise 70k a few days before the release

[casa9988]

It is only 70k dollars albeit at .07. I hope this is the end of this. The results (OHRI) should see the SP rise and depending on how good it should set a new 52 week high. I have checked Canadian Insider as of today and have yet to see any  insiders buying within the last month.....

[2udad]

I am not surprised that there isn't any insider buying at this time.  Stormont/Bryden has 20% of the company  He has backed the financing for years to the extent of purchasing warrants when they were out of the money and most recently offering puts for the private placements.  Nobody has more to loose. As far as the 70k goes, I would like to think that Bob is waiting for the

[casa9988]

Yes you are correct he is invested big and I'm sure its for seeing this to fruition...... Bio/med companies are very slow moving but once they have the goods the benefits can be huge. BOL