- BioVaxys Technology ( OTCQB:BVAXF ) closed the first tranche of a non-brokered private placement and issued 2M units at C$0.10 apiece for gross proceeds of C$200K.
- The Canadian company said each unit consists of one common share and one whole warrant to buy one additional common stock at an exercise price of $0.20.
- The total private placement consists of the sale of up to 10M units for total gross proceeds of up to C$1M.
- The company expects the second tranche to be completed within the next two weeks.
- BioVaxys intends to use the net proceeds for working capital.
For further details see:
BioVaxys raises C$200K in 1st tranche of private offering of units