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| Home : Tribute Pharmaceuticals Raises $3,400,000 With Strong Participation from Board and Management |
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Mar 04
2013 |
Tribute Pharmaceuticals Raises $3,400,000 With Strong Participation from Board and Management |
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MILTON, ONTARIO--(Marketwire - March 4, 2013) - Tribute Pharmaceuticals Canada Inc. (OTCQB:TBUFF)(OTCBB:TBUFF)(PINKSHEETS:TBUFF) ("Tribute" or "the Company"), a Canadian specialty pharmaceutical company, today announced it has raised approximately US$3.4 million through a private placement with private investors including the Company's Chief Executive Officer, Chief Financial Officer and most members of its Board of Directors. Insiders' investments accounted for over 50% of the gross proceeds raised at a price per Unit (as defined below) of $0.40, a premium over Friday's closing share price. The Company is also pleased to announce that two of its investors in this raise are former chief executive officers of large US specialty pharmaceutical companies. Use of proceeds from the private placement include the further funding of promotion for existing products such as CambiaŽ, repayment of indebtedness, working capital and pending business development initiatives. |
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| Source:http://www.marketwire.com/mw/release.do?id=1763518&sourceType=3 |
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