Transition Therapeutics (TTHI) Enters $5M Direct Private Placement
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Transition Therapeutics Inc.(Nasdaq: TTHI) today announced that it has entered into agreements to issue 3,703,703 common shares at a price of US$1.35 per share for gross proceeds of approximately $5 million, by way of a non-brokered private placement. Closing of the private placement is expected to occur on or about November 22, 2011. The Toronto Stock Exchange has conditionally approved the completion of the Offering.
The proceeds from the offering are expected to be used to build value for Transition's partnered Alzheimer's disease compound ELND005, its diabetes program TT-401/402, and general corporate purposes.
The proceeds from the offering are expected to be used to build value for Transition's partnered Alzheimer's disease compound ELND005, its diabetes program TT-401/402, and general corporate purposes.
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