Medicago announces results of warrant expiryMedicago announces results of warrant expiry
QUEBEC CITY, QC, Mar 18, 2010 (Canada NewsWire via COMTEX) -- Medicago Inc. (MDG), a clinical-stage biotechnology company focused on developing highly effective and affordable vaccines based on proprietary manufacturing technologies and Virus-Like Particles (VLPs), today announced that the outstanding unexercised common share purchase warrants at
.25 (the "Warrants") issued in connection with the March 2008 private placement expired at 4:00 pm (Eastern Standard Time) on March 14, 2010. Prior to expiry, 6,435,250 totaling $1,608,812 were exercised representing 99% of Warrants issued in March 2008. In the 2009 fiscal year 2,991,750 ($747,937) were exercised and the remaining 3,443,500 ($860,875) were exercised in 2010.