RE:Latest LXG news release, LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG) (the "Company"), a biotechnology company that develops genetic analyzers for raid pathogen detection and other molecular markers, today announces that it has received proceeds from the exercise of warrants. LexaGene is pleased to report that over the past 90 days the Company has received CAD $2.8 million through the exercise of 4.3 million warrants. These proceeds will be applied to advancing the Company's commercial readiness.
Daryl Rebeck, LexaGene President comments, "We are very happy to see these warrants being exercised and the continued support from our shareholders, many of whom have been here since day one. In current market conditions, this added capital is very beneficial as it further strengthens our balance sheet and cash position as we gear up for manufacturing."
About LexaGene Holdings Inc.
LexaGene is a biotechnology company that develops genetic analyzers for pathogen detection and other molecular markers for on-site rapid testing in veterinary diagnostics, food safety and for use in open-access markets such as clinical research, agricultural testing and biodefense. End-users simply need to collect a sample, load it onto the instrument with a sample preparation cartridge, enter sample ID and press 'go'. The LX Analyzer delivers excellent sensitivity, specificity, and breadth of detection and can return results in about 1 hour. The unique open-access feature is designed for custom testing so that end-users can load their own real-time PCR assays onto the instrument to target any genetic target of interest.
Media Contacts
Nicole Ridgedale
Director of Corporate Marketing, LexaGene
800.215.1824 ext 206
nridgedale@lexagene.com
Investor Relations
Jay Adelaar
Vice President of Capital Markets, LexaGene
800.215.1824 ext 207
jadelaar@lexagene.com