RE:RE:RE:Warrantsamendis wrote: What happen to the warrants? We have to sell before. Now price is above. I don't know that is why asking. I never bought before. I bought its cheap.
Shall I post this again -- or possibly is it that you do not understand what is written?
The November issue of warrants are the only ones that are trading on the market so if you bought warrants on the market those are the ones you have. If your broker does not know that you might have a question about your broker. These warrants have an expiry date of May 1, 2022 unless accelerated as noted below i.e. maintaining a price above 35 cents for 20 consecutive days.
VANCOUVER, British Columbia, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Algernon Pharmaceuticals Inc. (“Algernon” or the “Company”) (CSE: AGN) (FRANKFURT: AGW) (OTCB: BTHCF), a clinical stage pharmaceutical development company, is pleased to announce the closing of its marketed short form prospectus offering pursuant to which the Company issued 24,401,300 units of the Company (the “Units”) at a price of $0.085 per Unit (the “Issue Price”) for gross proceeds of $2,074,110.50 (the “Offering”).
Each Unit is comprised of one common share in the capital of the Company (a “Unit Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire, subject to adjustment in certain circumstances, one common share in the capital of the Company (each, a “Warrant Share”) at the price of $0.12 per Warrant Share until May 1, 2022 (the “Expiry Date”), subject to acceleration of the Expiry Date as described below.
If, at any time prior to the Expiry Date, the volume weighted average trading price of the common shares of the Company (the “Common Shares”) on the Canadian Securities Exchange (the “CSE”), or other principal exchange on which the Common Shares are listed, is greater than $0.35 for 20 consecutive trading days, the Company may, within 15 days of the occurrence of such event, deliver a notice to the holders of Warrants accelerating the Expiry Date to the date that is 30 days following the date of such notice (the “Accelerated Exercise Period”). Concurrent with the giving of such notice, the Company will also issue a press release disclosing the Accelerated Exercise Period. Any unexercised Warrants shall automatically expire at the end of the Accelerated Exercise Period.
The Offering was led by Mackie Research Capital Corporation as the sole agent and sole bookrunner (the “Agent”).
The net proceeds raised under the Offering will be used to fund the NP-178 IBD Trial or NP-120 IPF Trial, additional Phase 2 study planning and research and development. The remaining funds will be used for working capital and general corporate purposes.
It is anticipated that the Warrants will commence trading on the CSE under the symbol “AGN.WT” on or about November 4, 2019.