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| Home : Ceapro Inc. Closes Final Tranche of a Brokered Private Placement |
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Jul 15
2016 |
Ceapro Inc. Closes Final Tranche of a Brokered Private Placement |
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EDMONTON, ALBERTA--(Marketwired - July 14, 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 second and final tranche of its previously announced brokered private placement (the "Offering"). The second tranche resulted in the issuance of 4,085,370 units (each, a "Unit"), including 20,000 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 from the second tranche of $4,330,492. Aggregate gross proceeds of the Offering are $10,000,000. Each Unit consisted of one common share (each a "Purchased Share") and one-half of one common share purchase warrant (each whole warrant 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 second tranche. The majority of the Offering was subscribed by fundamental institutional investors. |
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| Source:http://www.marketwired.com/mw/release.do?id=2142457&sourceType=3 |
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