Awakn Life Sciences Announces Upsizing and Closing of Tranche of Private Placement Financing
Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) has announced an upsizing of its non-brokered private placement financing from $1,000,000 to $2,000,000. The company has closed a fourth tranche of the offering, issuing 857,143 units at $0.46 per unit, raising an additional $394,286 for a combined total of $1,117,142. Each unit consists of one common share and 0.75 of a warrant, with each whole warrant allowing the purchase of one common share at $0.63 for five years. The proceeds will be used for general working capital. Securities issued are subject to a four-month hold period and applicable resale rules.
Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) ha annunciato un aumento del suo finanziamento di collocamento privato non intermediao, passando da $1.000.000 a $2.000.000. L'azienda ha chiuso una quarta tranche dell'offerta, emettendo 857.143 unità a $0,46 per unità, raccogliendo ulteriori $394.286 per un totale combinato di $1.117.142. Ogni unità consiste in un'azione comune e 0,75 di un warrant, con ogni warrant intero che consente l'acquisto di un'azione comune a $0,63 per cinque anni. I proventi saranno utilizzati per capitale circolante generale. I titoli emessi sono soggetti a un periodo di blocco di quattro mesi e alle regole di rivendita applicabili.
Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) ha anunciado un aumento de su financiación de colocación privada no intermediada, de $1,000,000 a $2,000,000. La compañía ha cerrado una cuarta tranche de la oferta, emitiendo 857,143 unidades a $0.46 por unidad, recaudando un adicional de $394,286 para un total combinado de $1,117,142. Cada unidad consiste en una acción común y 0.75 de un warrant, con cada warrant entero permitiendo la compra de una acción común a $0.63 durante cinco años. Los ingresos se utilizarán para capital de trabajo general. Los valores emitidos están sujetos a un periodo de bloqueo de cuatro meses y a las reglas de reventa aplicables.
Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF)는 비중개 사모 펀딩을 $1,000,000에서 $2,000,000로 확대한다고 발표했습니다. 회사는 네 번째 분할 판매를 마감하며, 857,143 단위를 $0.46 단위당 발행하여 추가로 $394,286를 모금하여 총 $1,117,142를 모았습니다. 각 단위는 하나의 일반주식과 0.75의 워런트로 구성되며, 전체 워런트는 $0.63에 5년간 한 주식을 구매할 수 있게 합니다. 수익금은 일반 운영 자본에 사용될 예정입니다. 발행된 증권은 4개월의 보유 기간과 관련된 재판매 규정의 적용을 받습니다.
Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) a annoncé une augmentation de son financement de placement privé non intermédiaire, passant de $1,000,000 à $2,000,000. La société a clôturé une quatrième tranche de l'offre, émettant 857,143 unités à $0,46 par unité, levant un montant supplémentaire de $394,286 pour un total combiné de $1,117,142. Chaque unité se compose d'une action ordinaire et de 0,75 d'un warrant, chaque warrant entier permettant d'acheter une action ordinaire à $0,63 pendant cinq ans. Les produits seront utilisés pour le fonds de roulement général. Les titres émis sont soumis à une période de blocage de quatre mois et aux règles de revente applicables.
Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) hat eine Erhöhung ihrer nicht vermittelten Privatplatzierungsfinanzierung von $1.000.000 auf $2.000.000 bekannt gegeben. Das Unternehmen hat eine vierte Tranche des Angebots geschlossen und 857.143 Einheiten zu $0,46 pro Einheit ausgegeben, wodurch zusätzlich $394.286 für einen Gesamtbetrag von $1.117.142 eingeworben wurde. Jede Einheit besteht aus einer Stammaktie und 0,75 eines Warrants, wobei jeder volle Warrant den Kauf einer Stammaktie zu $0,63 über fünf Jahre ermöglicht. Die Erlöse werden für allgemeines Betriebskapital verwendet. Die ausgegebenen Wertpapiere unterliegen einer Haltefrist von vier Monaten und den geltenden Verkaufsregeln.
- Successful upsizing of private placement from $1,000,000 to $2,000,000, indicating strong investor interest
- Closing of fourth tranche raising $394,286, bringing total raised to $1,117,142
- Warrants provide potential for additional future funding at $0.63 per share
- Dilution of existing shareholders' ownership due to issuance of new shares
- Potential future dilution if warrants are exercised
Toronto, Ontario--(Newsfile Corp. - September 18, 2024) - Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) (FSE: 954) ("Awakn" or the "Company") a clinical-stage biotechnology company developing therapeutics for substance use and mental health disorders, with a near-term focus on Alcohol Use Disorder ("AUD"), is pleased to announce that, further to its press releases dated April 3, 2024, April 17, 2024, June 4, 2024 and July 31, 2024, it has determined to increase the size of its previously announced non-brokered private placement financing (the "Offering") from up to
Each unit is comprised of one common share in the capital of the Company (each, a "Common Share") and three quarters (0.75) of one whole Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of
All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Awakn Life Sciences Corp.
Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting substance use and mental health disorders. Awakn has a near-term focus on AUD, a condition affecting approximately 29 million adults in the US and approximately 40 million in the US and key European markets for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercialising our R&D pipeline across multiple channels.
www.awaknlifesciences.com | LinkedIn | X (formerly Twitter)
Notice Regarding Forward-Looking Information
This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, including statements relating the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.
Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include, but are not limited to: fluctuations in general macroeconomic conditions; the business plans and strategies of the Company; the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; fluctuations in securities markets; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; expectations regarding the size of the addiction market; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Investor Enquiries:
Anthony Tennyson, CEO, Awakn Life Sciences
anthony.tennyson@awaknlifesciences.com
416-270-9566
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223687
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