Mr. Hugh Notman reports
CALYX BIO-VENTURES INC. ANNOUNCES PRIVATE PLACEMENT FINANCING OF UP TO $3,500,000
Calyx Bio-Venture Inc. has agreed to sell, on a non-brokered private placement basis, up to a total of 10 million common shares of the company at a price of 35 cents per common share for gross proceeds of up to $3.5-million. The terms and completion of the private placement are subject to TSX Venture Exchange approval. The common shares issued pursuant to the private placement will be subject to a four-month hold period from the date of closing of the private placement. The company may pay a finder’s fee in connection with the private placement of up to 7 per cent of the gross proceeds received by the company from the sale of the common shares pursuant to the private placement.
Net proceeds of the private placement will be used by the company for general working capital purposes and to continue to finance its interest in Agrisoma Biosciences Inc.