I just received an E mail announcing it!
Here is the content.
Protox Announces Private Placement
- NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR DISSEMINATION -
Vancouver, British Columbia, February 4, 2010 – Protox Therapeutics Inc. (TSX: PRX), a leader in the development of receptor targeted fusion proteins for the treatment of prostate disease and other forms of cancer, today announced it intends to raise gross proceeds of up to CDN$8,000,000 through a brokered private placement of units (“Units”) at a price of CDN
.55 per Unit. Each Unit is comprised of one common share of Protox and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of Protox at a price of CDN
.70 for a two year period from closing date subject to an acceleration of the expiry date in certain circumstances.
The Company has retained Dundee Capital Markets to act as lead placement agent and Canaccord Financial Inc. to act as co-lead placement agent, along with Versant Partners as co-agent.
The brokered private placement is subject to all necessary regulatory and stock exchange approvals. Protox intends to use the net proceeds principally to finance its development and clinical activities. Closing is expected to be on or about February 26, 2010.
The securities being issued in the private placement are all subject to a four-month hold period in accordance with applicable Canadian securities laws. The securities have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and, until so registered, may not be offered or sold in the United States or any state or to, or for the account of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.