TSXV:LSL - Post Discussion
Post by
goochcroggins on Mar 07, 2024 9:08am
More dilutive financings and warrants. I'm out!
BOUCHERVILLE, Qubec, March 07, 2024 (GLOBE NEWSWIRE) -- LSL PHARMA GROUP INC. (TSXV: LSL) (the "Corporation" or "LSL Pharma "), a Canadian integrated pharmaceutical company, today announced the launch of a non-brokered private placement financing of Units (as defined hereinafter) for minimum gross proceeds of $2.5 million and a maximum of $3.5 million (the “Financing”) and that it is conducting discussions with certain creditors to settle debts in Units for an aggregate amount ranging from a minimum of $2.5 million and a maximum of $4.5 million (the “Units for Debts”).
The Units for Debts is conducted in parallel to the Financing to strengthen the Corporation’s balance sheet and to dedicate the proceeds from the Financing mainly to further expand production capacity at each of the LSL Laboratories and Steri-Med Pharma plants and for general working capital purposes.
Each Unit to be issued pursuant to the Financing and the Units for Debts will be at a price of $0.40 per unit (the “Units”) and will consist of one (1) class A share of the Corporation (a “Common Share”) and one (1) Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder, subject to adjustments in certain cases, to purchase one (1) Common Share (a “Warrant Share”) at a price of $0.70 for a period of 36 months following the closing of the Financing.
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