OTCPK:BUENF - Post by User
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Time4TAon Jun 01, 2011 7:16am
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Post# 18654323
Shares represent some Very Good Value Here
Shares represent some Very Good Value HereLast Financing was performed by Insiders @
.18. The company raised a total of $9.687,233 . It was a Rights offering...in a very Tough market a few Months after that BIG Market Meltdown....Money was still able to FLow into BLU...that in itself was pretty amazing in that now many Listed Companies were not able to raise funds. ...but BLU Did.....
Under the rights offering, rights were exercised to subscribe for9,120,177 common shares at the Subscription Price for proceeds of C$1,687,233.Additionally, in accordance with the terms of the stand-by purchase agreementsentered into by BELLUS Health with Vitus Investments III Private Limited("Vitus") and Victoria Square Ventures Inc. ("VSVI"), each of Vitus and VSVIwill subscribe for 21,621,621 common shares of BELLUS Health at theSubscription Price for an aggregate of C$8,000,000.
The rights issue is a special form of shelf offering or shelf registration. With the issued rights, existing shareholders have the privilege to buy a specified number of new shares from the firm