- Sona Nanotech (SONA) has closed a non-brokered private placement, raising gross proceeds of $1.1 million
- The company issued 11,000,000 shares priced at $0.10 per share
- Proceeds from the offering will be used to complete the acquisition of Siva Therapeutics
- Sona Nanotech Inc. is a nanotechnology life sciences firm
- Sona Nanotech Inc. (SONA) opened trading at C$0.15
Sona Nanotech (SONA) has closed a non-brokered private placement, raising gross proceeds of $1.1 million.
Under the upsized offering, the company issued 11,000,000 shares at $0.10 per share.
Proceeds will be used for corporate development and general working capital purposes, including its previously-announced acquisition of Siva Therapeutics.
Siva Therapeutics Inc is developing Targeted Hyperthermia, a photothermal cancer therapy which uses therapeutic heat to treat solid cancer tumours.
In addition to the proposed acquisition of Siva, the company continues to develop its proprietary, biocompatibility gold nanorod technology, as well as its portfolio of rapid diagnostic test prototypes for concussion and bovine tuberculosis.
About Sona Nanotech Inc.
Sona Nanotech Inc. is a nanotechnology life sciences firm that has developed multiple proprietary methods for the manufacture of various types of gold nanoparticles.
Sona Nanotech Inc. (SONA) opened trading at C$0.15.