Core One Labs Inc., a biotech research and development firm specialized in psychedelic medicine, has announced a non-brokered private placement to raise up to CAD 1.5 million (USD 1.1 million). The placement consists of units priced at CAD 0.15 each (USD 0.11). Each unit will comprise one share and half of a transferable share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share at a price of CAD 0.20 (USD 0.15) within five years from its issuance. The first tranche of the placement is scheduled to close on April 17, 2024.
The proceeds from the placement are expected to be used for working capital and for general corporate tasks, aimed at boosting the business processes.
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