Algernon Pharmaceuticals Announces Closing of Private Placement
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) has closed its non-brokered private placement, raising gross proceeds of $408,000. The offering consisted of units priced at $0.12 per unit. Notably, company insiders participated in the offering, contributing $77,760. This insider participation is considered a 'related party transaction' under MI 61-101, but the company is exempt from certain requirements due to the transaction's size. Algernon paid $5,376 in cash finder's fees and issued 44,800 finder's warrants. The company plans to use the proceeds for working capital purposes.
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) ha chiuso il suo collocamento privato non intermediato, raccogliendo incassi lordi di $408,000. L'offerta consisteva in unità al prezzo di $0,12 per unità. È importante notare che i membri interni dell'azienda hanno partecipato all'offerta, contribuendo con $77,760. Questa partecipazione interna è considerata una 'transazione con parti correlate' ai sensi della MI 61-101, ma l'azienda è esente da determinati requisiti a causa delle dimensioni della transazione. Algernon ha pagato $5,376 in commissioni per i broker e ha emesso 44,800 warrant per i broker. L'azienda prevede di utilizzare i proventi per scopi di capitale circolante.
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) ha cerrado su colocación privada no intermediada, recaudando ingresos brutos de $408,000. La oferta consistió en unidades a un precio de $0.12 por unidad. Cabe destacar que los miembros internos de la empresa participaron en la oferta, contribuyendo con $77,760. Esta participación interna se considera una 'transacción entre partes relacionadas' bajo la MI 61-101, pero la empresa está exenta de ciertos requisitos debido al tamaño de la transacción. Algernon pagó $5,376 en comisiones de finder y emitió 44,800 warrants de finder. La empresa planea utilizar los ingresos para fines de capital de trabajo.
알거넌 제약 주식회사(증권거래소: AGN, OTCQB: AGNPF)는 중개인이 없는 개인 배치를 종료했습니다, $408,000의 총 수익을 올렸습니다. 이 제안은 단위 당 $0.12로 가격이 책정된 단위로 구성되었습니다. 특히, 회사의 내부 관계자들이 제안에 참여했습니다 그리고 $77,760를 기여했습니다. 이 내부자 참여는 MI 61-101에 따라 '관련 당사자 거래'로 간주됩니다, 그러나 거래의 크기 때문에 회사는 특정 요구 사항에서 면제됩니다. 알거넌은 $5,376의 현금 중개 수수료를 지불했습니다 그리고 44,800개의 중개인 워런트를 발행했습니다. 회사는 이러한 수익을 운영 자본 목적으로 사용할 계획입니다.
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) a clôturé son placement privé non intermédié, levant des recettes brutes de $408,000. L'offre se composait d'unités au prix de $0,12 par unité. Notamment, des initiés de l'entreprise ont participé à l'offre, contribuant à hauteur de $77,760. Cette participation des initiés est considérée comme une 'transaction avec des parties apparentées' selon la MI 61-101, mais la société est exonérée de certaines exigences en raison de la taille de la transaction. Algernon a payé $5,376 en frais de courtage et a émis 44,800 bons de souscription pour le courtier. La société prévoit d'utiliser les recettes pour des besoins en fonds de roulement.
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) hat seine nicht vermittelte Privatplatzierung abgeschlossen und brutto Einnahmen von $408,000 erzielt. Das Angebot bestand aus Einheiten, die zu einem Preis von $0,12 pro Einheit angeboten wurden. Bemerkenswert ist, dass Unternehmensinsider an dem Angebot teilgenommen haben und $77,760 beigesteuert haben. Diese Insiderbeteiligung wird unter MI 61-101 als 'Transaktion mit nahestehenden Parteien' betrachtet, aber das Unternehmen ist aufgrund der Größe der Transaktion von bestimmten Anforderungen befreit. Algernon zahlte $5,376 an Barkomisso für Finder und gab 44.800 Finder-Warrants aus. Das Unternehmen plant, die Einnahmen für Betriebszwecke zu verwenden.
- Successful closing of private placement raising $408,000
- Insider participation in the offering, showing confidence in the company
- Exemption from certain MI 61-101 requirements, simplifying the process
- Relatively small amount raised ($408,000) may not significantly improve the company's financial position
- Issuance of new units may lead to dilution for existing shareholders
VANCOUVER, British Columbia, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Algernon Pharmaceuticals Inc. (CSE: AGN) (FRANKFURT: AGW0) (OTCQB: AGNPF) (the “Company” or “Algernon”) a Canadian clinical stage pharmaceutical development company announces the close of its non-brokered private placement, previously announced on July 11, 2024 and updated on July 31, 2024, for gross proceeds of
Certain insiders of the Company participated in the Offering in the amount of
The Company paid cash finder’s fees totaling
The Company will use the proceeds of the private placement for working capital purposes.
About Algernon Pharmaceuticals Inc.
Algernon Pharmaceuticals is a Canadian clinical stage drug development company investigating multiple drugs for unmet global medical needs. Algernon Pharmaceuticals is the parent company of a private subsidiary called Algernon NeuroScience, that is advancing a psychedelic program investigating a proprietary form of DMT for stroke and traumatic brain injury and has an active research program for chronic kidney disease.
Algernon recently announced that it closed on its agreement with Seyltx Inc., a privately owned U.S. based drug development company, for the acquisition of Algernon’s Ifenprodil research program for the purchase price of USD
CONTACT INFORMATION
Christopher J. Moreau
CEO
Algernon Pharmaceuticals Inc.
604.398.4175 ext 701
info@algernonpharmaceuticals.com
investors@algernonpharmaceuticals.com
www.algernonpharmaceuticals.com.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY DISCLAIMER STATEMENT: No Securities Exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements relating to the completion of the Offering, use of proceeds from the Offering, engagement of Maxim, the completion of future transactions and the spin-off of the Ifenprodil research program and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
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