Gratomic Announces Further Increase to Non-Brokered Private Placement
TORONTO, Nov. 29, 2018 (GLOBE NEWSWIRE) -- Gratomic Inc. (“GRAT” or the “Company”) (TSX-V: GRAT) (FRANKFURT:CB81, WKN:A143MR) is pleased to announce that the offering of a non-brokered private placement originally announced on November 16, 2018 and increased on November 20, 2018 will be increased by up to $500,000. The Company will be offering up to 25,000,000 working capital units (the “WC Unit”) for gross proceeds of up to $2,500,000 (the “Offering”).
Each WC Unit is priced at $0.10 and consists of one (1) common share and one (1) common share purchase warrant (“WC Warrant”). Each WC Warrant entitles the holder to purchase one (1) common share (a “WC Warrant Share”) at a price of $0.20 per WC Warrant Share until the earlier of: (i) three (3) years following the Closing of the Offering; and (ii) in the event that the closing price of the Common Shares on the TSX Venture Exchange is at least $0.30 for ten (10) consecutive trading days, and the 10th trading day (the “Final Trading Day”) is at least four (4) months from the Closing Date, the date which is thirty (30) days from the Final Trading Day.
Eligible Finders may receive 5% of the value of proceeds of the sale of WC Units in cash and 5% of the number of WC Units sold in the form of broker warrants (the “Selling Commission”). Each broker warrant (a “Broker Warrant”) issued in respect of the sale of WC Units entitles the holder to acquire one (1) common share of the Company at $0.10 for a period of three (3) years from the Closing of the Offering. The Company has agreed to pay First Republic Capital Corporation (“First Republic”) a corporate finance fee equal to 2% of the gross proceeds of the Offering and issue to First Republic corporate finance Broker Warrants equal to 2% of the aggregate number of WC Units as consideration for waiving its right of first refusal in respect of the Offering. First Republic will have the right to place up to $500,000 of the Offering with its clients and will receive a Selling Commission in respect of any WC Units placed.
The Company expects to close the Offering in the first week of December, subject to TSX Venture Exchange approval, or such other date as is agreed between the Company and the subscribers. All securities issued under the Offering are subject to a statutory four month hold period.
Insiders of the Company may subscribe for up to 25% of the Offering. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (“MI 61-101”) by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company which may be issued to the insiders does not exceed 25% of its market capitalization.
About Gratomic Inc.
Gratomic Inc. is an advanced materials company focused on mine to market commercialization of graphite products most notably high value graphene based components for a range of mass market products.
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Følg saker fra GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra GlobeNewswire
Biome Grow receives new consumer sales amendment from Health Canada for its Nova Scotia brand, Highland Grow17.12.2018 14:00 | Pressemelding
Sales amendment granted for Highland Grow—Amendment to License Significantly Increases Product Availability for Medical and Adult Consumer-Use Markets TORONTO, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Biome Grow Inc. (“Biome” or the “Company”) (CSE: BIO) (Frankfurt: 6OTA) (OTC: ORTFF) is pleased to announce its Nova Scotia-based subsidiary, Highland Grow Inc. (“Highland Grow”), has received its sales authorization via an amendment to its existing license from Health Canada under the Cannabis Act. This authorization will allow Highland Grow to sell cannabis products to end consumers through appropriate medical and recreational cannabis channels, dramatically increasing product availability. The sales authorization will position Biome Grow to serve the rapidly growing domestic and international cannabis markets. "Biome Grow has been steadfast in its focus on a regional business strategy and building provincial brands that can serve the unique requirements of its local cannabis consumers. This n
Alkermes and Biogen Announce Submission of a New Drug Application to U.S. Food and Drug Administration for Diroximel Fumarate in Multiple Sclerosis17.12.2018 13:30 | Pressemelding
DUBLIN, Ireland and CAMBRIDGE, Mass., Dec. 17, 2018 (GLOBE NEWSWIRE) -- Alkermes plc (Nasdaq: ALKS) and Biogen Inc. (Nasdaq: BIIB) today announced that Alkermes has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for diroximel fumarate (BIIB098), a novel oral fumarate in development for the treatment of relapsing forms of multiple sclerosis (MS). Alkermes is seeking approval of diroximel fumarate under the 505(b)(2) regulatory pathway, and the NDA submission includes data from EVOLVE-1, a Phase 3 pivotal trial that evaluated long-term safety in relapsing-remitting MS (RRMS) with approximately 700 patients dosed with diroximel fumarate. If approved, Biogen intends to market diroximel fumarate under the brand name VUMERITY™. This name has been conditionally accepted by the FDA and will be confirmed upon approval. “Diroximel fumarate was designed to provide patients with relapsing forms of multiple sclerosis a novel oral fumarate with a differentiated
SoftServe Documentary Receives “The Best Corporate Media of Ukraine 2018” Award17.12.2018 13:00 | Pressemelding
25th anniversary documentary takes prize in “The Best Corporate Movie” category AUSTIN, Texas, Dec. 17, 2018 (GLOBE NEWSWIRE) -- SoftServe, a leading digital authority and consulting company, announces the Ukrainian Association of Corporate Media, a public organization uniting professionals in the field of marketing, PR, journalism, and advertising, recognized SoftServe in its annual competition – “The Best Corporate Media of Ukraine 2018.” SoftServe’s 25th anniversary documentary took second place in the “The Best Corporate Movie Category.” The documentary honors the company’s 25th anniversary with an inside look at how SoftServe evolved over the past quarter century to become a leading digital authority. In the documentary, SoftServe’s founders and leadership share their inspiring stories and highlight the company’s achievements over the years. “It is a great honor to receive this recognition from the Ukrainian Association of Corporate Media for our 25th anniversary documentary,” sai
Bombardier to supply a further 20 FLEXITY trams to Karlsruhe17.12.2018 10:00 | Pressemelding
Albtal-Verkehrs-Gesellschaft expands its fleet to 62 trams The dual-system vehicles operate on both the tram network and regional railway network BERLIN, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Global mobility solution provider Bombardier Transportation received a call-off order from Albtal-Verkehrs-Gesellschaft mbH (AVG), the transport company of the Alb valley region in southwest Germany, for the delivery of 20 further dual-system BOMBARDIER FLEXITY trams. This third order is based on a framework agreement for a total of 75 vehicles from 2009. The order is valued at approximately 87 million euro ($98 million US). The vehicles will be delivered between May 2020 and March 2021. "Striving to provide attractive local transport services, we have decided to order 20 additional dual-system vehicles from Bombardier Transportation. This will allow us to purposefully enlarge our vehicle fleet offering high-quality standards to our passengers," said Dr. Alexander Pischon, CEO of Albtal-Verkehrs-Gesel
DalCor Announces Completion of Patient Enrollment in dal-GenE, the First Phase 3 Precision Medicine Cardiovascular Outcomes Trial in Coronary Heart Disease17.12.2018 09:00 | Pressemelding
LONDON and MONTREAL, Dec. 17, 2018 (GLOBE NEWSWIRE) -- DalCor today announced the completion of patient enrollment in the dal-GenE study, the first Phase 3 precision medicine cardiovascular outcomes trial in coronary heart disease. The dal-GenE study is evaluating the efficacy of the CETP inhibitor dalcetrapib to reduce clinical cardiovascular events in patients with the AA ADCY9 genotype who have had a recent acute coronary syndrome (ACS). The study has enrolled over 6,000 patients and is being conducted in 680 sites in 32 countries. “The accelerated enrollment of patients in the dal-GenE study reflects the scientific enthusiasm and commitment among the medical community to bring the right medicine to the right patient,” said Dr. Jean-Claude Tardif from the Montreal Heart Institute. “ADCY9 genetic testing to identify the appropriate patients for treatment with dalcetrapib has the potential to provide a genetically targeted therapy to improve clinical outcomes. This approach could pave
Compuware Announces Day One Support for IBM CICS Transaction Server for z/OS V5.514.12.2018 18:02 | Pressemelding