3D Signatures Inc. (TSXV:DXD) will be raising $1.5 million by a non-brokered private placement of 7.5 million units at $0.20 per unit. Each unit will consist of one common share of the company, as well as one common share purchase warrant exercisable at $0.35 for 5 years from the closing date of the private placement.
3D Signatures has agreed the following:
- to pay a cash finder’s fee of 6% of the aggregate proceeds raised from subscriptions arranged by certain finders;
- to issue broker warrants equal to 6% of the aggregate units subscribed for pursuant to the subscriptions arranged by such finders.
The private placement will close on November 30, 2017, and is subject to receipt of all necessary regulatory approvals, including that of the TSX Venture Exchange. All securities issued after the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws.
3D Signatures will be using to money earned through the private placement to fund clinical trials, and also for working capital and general corporate purposes. For the clinical expenses, about $750,000 of the fund will be used. This includes testing for Hodgkin’s lymphoma and Telo-HLTM. The remainder of the funds will be used for general working capital expenses.
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