(TheNewswire)
Vancouver, British Columbia TheNewswire - July 4, 2022. Lexston Life Sciences Corp. (the “Company” ) (CSE:LEXT)(OTC:LEXTF) announces that further to its newsreleases dated June 1, 2022 and June 27, 2022, the Company has issued18,562,440 units (“Units”) at a purchaseprice of $0.05 per Unit for gross proceeds of $928,122 (the “PrivatePlacement”). Each Unit consists of one common share in the capitalof the Company (“Share”) and one share purchase warrant(“Warrant”). Each full Warrant entitles the holder to purchaseone Share for a period of five years, at a purchase price of $0.075per Share.
The Company has paid $4,480 cash to Haywood SecuritiesInc and $15,400 to Raymond James Ltd. and issued 89,600 broker’swarrants to Haywood Securities Inc. and 308,000 broker’s warrants toRaymond James Ltd. as finders’ fees. The finders’ warrants aresubject to the same terms and conditions as the Warrants issuedpursuant to the Private Placement.
All securities issued pursuant to the Private Placementare subject to a statutory hold period of four months plus a day fromthe date of issuance in accordance with applicable securitieslegislation.
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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