Private Placement closed
ChroMedX closes $611,050 final tranche of financing
2017-02-02 16:28 ET - News Release
An anonymous director reports
CHROMEDX ANNOUNCES CLOSING OF PRIVATE PLACEMENT
ChroMedX Corp. has closed the second and final tranche of its previously announced non-brokered private placement by issuing 4,073,667 units at a price of 15 cents per unit for aggregate gross proceeds of $611,050.05. Each unit comprises one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of 20 cents for a period of 18 months from the closing of the offering.
The securities issued in connection with the offering will be subject to a hold period of four months plus a day from the date of issuance pursuant to applicable securities laws. The proceeds of the offering will be used for developing prototypes, marketing and general working capital purposes.
Certain eligible persons were paid a cash commission equal to 8 per cent of the proceeds raised from subscribers introduced to the company by such finder and were also issued broker warrants equal to 8 per cent of the securities purchased by such subscribers. Each broker warrant entitles the holder thereof to purchase one common share at a price of 20 cents for a period of 18 months from the closing of the offering.
About ChroMedX Corp.
ChroMedX is a medical technology company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing. The devices are protected by the company's issued and pending patents, dealing with blood collection, analysis and plasma/serum processing.
We seek Safe Harbor.