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| Home : Stellar Pharmaceuticals Announces Completion of Non-Brokered Private Placement |
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Oct 12
2010 |
Stellar Pharmaceuticals Announces Completion of Non-Brokered Private Placement |
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LONDON, ONTARIO--(Marketwire - Oct. 11, 2010) - Stellar Pharmaceuticals Inc. (OTCBB:SLXCF) (the "Company") is pleased to announce that the Company has completed a non-brokered private placement consisting of 1,000,000 units of the Company ("Units") at a price of US$1.00 per Unit for gross proceeds of US$1,000,000. Each Unit consists of one Common Share and one-half of a Series 1 Warrant, one-half of a Series 2 Warrant and one-half of a Series 3 Warrant (a "Unit"). Each whole Series 1 Warrant entitles the holder to acquire one Common Share during a period of 18 months from the Closing Date at an exercise price of US$1.50, subject to adjustment as set forth in the Series 1 Warrant. Each whole Series 2 Warrant entitles the holder to acquire one Common Share during a period of 18 months from the Closing Date at an exercise price of $2.00, subject to adjustment as set forth in the Series 2 Warrant. |
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| Source:http://www.marketwire.com/mw/release.do?id=1332830&sourceType=3 |
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