(TheNewswire)
Vancouver, British Columbia – TheNewswire - June 27, 2022. Lexston Life Sciences Corp. (the “Company” ) (CSE:LEXT)(OTC:LEXTF) announces an increase to thenon -brokered private placement announced on June1, 2022. The Private Placement has been increased to up to22,000,000 units (the “Units”) at a purchase price of $0.05 perUnit to raise gross proceeds of up to $1,100,000 (the “PrivatePlacement”). Each unit will consist of one common share in thecapital of the Company and one share purchase warrant (a“Warrant”). Each full warrant will entitle the holder topurchase one additional common share in the capital of the Company fora period of five years, at a purchase price of $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.
No new insiders or control persons will be created as aresult of this Private Placement.
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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