Innocan Pharma To Secure Up To $3M Via Private Placement Of Units At A 9% Prime Above Share Price
Portfolio Pulse from Vuk Zdinjak
Innocan Pharma Corporation plans to complete a non-brokered private placement of up to 17.22 million units at a price of CA$0.23 per unit, raising up to CA$3.96 million ($3 million). The offering is expected to close on or around July 20, 2023. The proceeds will be used for working capital and general corporate purposes. The securities will be subject to a hold period of four months and one day from the date of issuance.
July 25, 2023 | 11:46 am
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Innocan Pharma's private placement could provide the company with additional capital for working capital and general corporate purposes. This could potentially strengthen the company's financial position.
The private placement could provide Innocan Pharma with additional capital, which could be used to fund its operations and potentially drive growth. This could potentially have a positive impact on the company's stock price.
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