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| Home : Ceapro Inc. Closes an Initial Tranche of a Brokered Private Placement |
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Jul 12
2016 |
Ceapro Inc. Closes an Initial Tranche of a Brokered Private Placement |
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EDMONTON, ALBERTA--(Marketwired - July 11, 2016) - Ceapro Inc. (TSX VENTURE:CZO) ("Ceapro" or the "Company"), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, announced today that it has closed the first tranche of its previously announced brokered private placement (the "Offering") and increased the maximum size of the Offering from $5,750,000 to $10,000,000. The first tranche resulted in the issuance of 5,348,592 units (each, a "Unit"), including 405,500 Units held in escrow pending final approval of the Offering by the TSX Venture Exchange, each issued at a price of $1.06 per Unit, which resulted in gross proceeds of $5,669,508. Each Unit consisted of one common share (each a "Purchased Share") and one-half common share purchase warrant (each a "Warrant"). Each Warrant entitles the holder thereof to acquire one additional common share (each a "Warrant Share") at an exercise price of $1.50 for a period of 24 months following the closing of the Offering. The second tranche of the Offering is expected to close on or about July 13, 2016. |
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| Source:http://www.marketwired.com/mw/release.do?id=2141107&sourceType=3 |
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