(TheNewswire)
Vancouver, British Columbia – TheNewswire - June 1, 2022. Lexston Life Sciences Corp. (the “Company” ) (CSE:LEXT)(OTC:LEXTF) announces a non-brokered private placement consisting of up to 15,000,000units (the “Units”) at a purchase price of $0.05 per Unit to raisegross proceeds of up to $750,000 (the “Private Placement”). Eachunit will consist of one common share in the capital of the Companyand one share purchase warrant (a “Warrant”). Each full warrantwill entitle the holder to purchase one additional common share in thecapital of the Company for a period of five years, at a purchase priceof $0.075 per Share.
The Company may pay a finder’s fee in connection withthe Private Placement within the maximum amount permitted by thepolicies of the Canadian Securities Exchange (the “Exchange”) andthe applicable securities laws. Certain directors, officers andinsiders of the Company may participate in the Private Placement. The Private Placement is subject to several conditions, includingreceipt of all necessary corporate and regulatory approvals, includingthe Exchange. All securities to be issued in connection with thePrivate Placement will be subject to a statutory hold period of fourmonths plus a day from the date of issuance in accordance withapplicable securities legislation.
The net proceeds from the Private Placement will beused by the Company for general working capital.
On Behalf of the Board of Directors
LEXSTON LIFE SCIENCES CORP.
Jagdip Bal Chief Executive Officer
Telephone: (604) 928-8913
The Canadian Securities Exchange hasnot reviewed and does not accept responsibility for the adequacy oraccuracy of the content of this news release.
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