Onco-Innovations plans $2 million private placement at $0.88 per unit

Onco-Innovations Limited (CBOE CA: ONCO) announced plans for a non-brokered private placement to raise up to $2 million through the sale of 2,272,727 units at $0.88 each.

Each unit consists of one common share and half of a common share purchase warrant. The warrants allow holders to purchase additional shares at $1.10 each within 36 months of issuance.

The Vancouver-based cancer research company will issue additional shares equal to 1% of the total placement as administrative fees to a third party assisting with the transaction. The company may also pay finders' fees or issue finders' warrants to parties who introduce subscribers.

Completion of the private placement requires regulatory approvals and other standard conditions. All securities issued will be subject to a four-month and one-day hold period under applicable securities laws.

Onco-Innovations intends to use proceeds for general corporate and working capital purposes, including operational and research and development objectives and investor relations activities.

The company specializes in oncology research and treatment, holding an exclusive worldwide license to patented technology targeting solid tumors. Onco-Innovations trades on multiple exchanges including CBOE CA under ticker ONCO, Frankfurt as W1H, and OTCQB as ONNVF.

The securities have not been registered under U.S. securities laws and may not be offered or sold in the United States without registration or applicable exemptions.

You May Also Be Interested In

• William Blair Upgrades Moderna (MRNA) to Outperform, 'we believe Moderna has a clear line of sight to revenue diversification from the COVID business
• Home Depot (HD) PT Raised to $354 at Bernstein SocGen Group
• Nomad Power gets UL 9540 certification for 1 MW mobile storage unit