News
BRAXIA SCIENTIFIC ANNOUNCES CAD$3 MILLION PRIVATE PLACEMENT WITH INSTITUTIONAL INVESTORS Braxia Scientific Corp. has entered into a securities purchase agreement with institutional investors for a private placement of its common shares and warrants to purchase common shares for gross proceeds of approximately $3-million. Pursuant to the private placement, the company will issue 30 million common shares (or common share equivalents) and warrants to purchase up to an aggregate of 30 million common shares at a purchase price of 10 cents per common share and associated warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of 12.5 cents for a period of five years following the issuance date. H.C. Wainwright & Co. is acting as the exclusive placement agent for the private placement. The net proceeds of the private placement will be used by the company for the expansion of clinics, certain strategic investments and general working capital purposes. No securities will be offered or sold to Canadian residents in connection with the private placement. The private placement is expected to close on or about Jan. 10, 2022, subject to the satisfaction of customary closing conditions.