CHEMAPHOR INC. RAISES $180,000 IN PRIVATE PLACEMENT
07 Octubre 2010 - 5:02PM
PR Newswire (Canada)
OTTAWA, Oct 7 /CNW/ -- Listing: TSX Venture
ExchangeSymbol: CFR OTTAWA, Oct 7 /CNW/ -
Chemaphor Inc. (TSX Venture Exchange: CFR), today announced that it
has issued a total of 1,800,000 common shares and 900,000 common
share purchase warrants for gross proceeds of $180,000 through a
private placement. This private placement
involved the sale of units, each comprised of one common share and
one half of a common share purchase warrant, for a unit price of
$0.10. Each whole warrant entitles the holder to
acquire one common share of Chemaphor at an additional purchase
price of $0.10 per share for two years from closing. The
warrants are subject to an accelerated expiry if, at any time after
an initial 4 month hold period expires, the closing price of
Chemaphor's common shares on the TSX Venture Exchange exceeds $0.20
for any 20 consecutive trading days, in which event the holder will
be given notice that the warrants will expire 30 days following the
date of such notice. The warrants may be exercised by the
holder during the 30-day period between the notice and the
expiration of the warrants. In connection with the private
placement Macquarie Private Wealth Inc. has received an $18,000
cash commission and warrants to acquire 180,000 common
shares. The warrants issued to Macquarie Private Wealth Inc.
have the same terms as the warrants issued to subscribers in the
private placement. The net proceeds of the proposed offering
will be used to fund working capital and research and development
expenditures and for general corporate
purposes. The securities issued under this
private placement are and will be subject to restrictions on
transfer, including a hold period ending four months after
issuance. The private placement remains subject to TSX
Venture Exchange approval. This news release does not
constitute an offer to sell or a solicitation of an offer to buy
any securities. About Chemaphor Chemaphor, a wellness company, is
committed to developing and delivering products to humans and
animals to assist in optimizing health and daily quality of life.
Chemaphor is advancing product candidates for the food animal
market, companion animal market and various, potential human
applications. More information can be found at www.chemaphor.com.
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. pbChemaphor Inc./b/p pDr. Graham Burtonbr/(613)
990-0969/p pbEvolution Group Inc/b. /p
pSylvain Archambaultbr/1-866-703-4887br/|a
href="mailto:s.archambault@evolutiongrp.com"s.archambault@evolutiongrp.com/a/p
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