- Algernon Pharmaceuticals (AGN) has closed a non-brokered private placement
- The company issued 373,900 units at $3.75 per unit for gross proceeds of $1,402,125
- Each unit consists of one Class A common share and one common share purchase warrant
- Each warrant will entitle the holder to acquire one additional common share until August 22, 2027
- Algernon Pharmaceuticals Inc. is a drug re-purposing company
- Algernon Pharmaceuticals Inc. opened trading for the day at $4.00 per share.
Algernon Pharmaceuticals (AGN) has closed its previously announced non-brokered private placement for gross proceeds of $1,402,125.
The company issued 373,900 units at $3.75 per unit. Each unit consists of one Class A common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share until August 22, 2027.
The securities issued will be subject to a statutory four-month hold period.
Proceeds will be used to fund research and development programs and for working capital.
Algernon is a drug re-purposing company that investigates safe, already approved drugs, including naturally occurring compounds, for new disease applications.
Algernon Pharmaceuticals Inc. opened trading at $4.00 per share.