Financial Picture better NOW!Looks like the cash on hand is no longer an issue as $900K was just raised.
That could position the company well down the road if and when negotiations begin.!
GLTYLongs!
Time too buy back in Mapleleaf...and Burabus to join in on the West Coast Party!
Advanced Proteome Therapeutics Corp. has closed a non-brokered private placement financing as reported in Stockwatch Oct. 8, 2010, by the issuance of three million units at a purchase price of 30 cents per unit for gross proceeds of $900,000. Each unit consists of one common share in the capital of the company and one-half of a transferable share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share in the capital of the company on or before Oct. 20, 2011, at a purchase price of 50 cents per share.
In connection with certain subscriptions of the private placement, the company paid a total of $67,275.00 cash in finders' fees to arm's-length parties, equal to 7 per cent of the gross subscription proceeds realized from the sale of units by the respective finder.
All securities issued by the company pursuant to the private placement are subject to a hold period of four months and one day, and cannot be resold until Feb. 22, 2011. Proceeds of the private placement will be used to advance the company's platform technologies and the testing of potential protein therapeutics and diagnostic imaging agents currently in development, as well as for general working capital.
We seek Safe Harbor.