Source: The Dales Report
  • BetterLife Pharma (BETR) has closed its brokered private placement in which it issued 1,500,000 units at $0.10 per unit for gross proceeds of $1,500,000
  • Ahmad Doroudian, CEO of the company, participated in the offering
  • The company closed a concurrent non-brokered private placement for gross proceeds of C$357,143 (US$250,000)
  • BetterLife Pharma Inc. is an emerging biotechnology company developing and commercializing two compounds, BETR-001 and BETR-002, to treat neuro-psychiatric and neurological disorders
  • BetterLife Pharma Inc. (BETR) was down 15.79 per cent, trading at $0.08 at 10:55 ET

BetterLife Pharma (BETR) has closed a brokered private placement offering for gross proceeds of $1,500,000.

Under the offering, the company issued 1,500,000 units at a price of $0.10 per unit.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at any time up to 60 months from the closing of the offering.

The brokered offering was led by Bloom Burton Securities Inc., as lead placement agent and Research Capital Corp.

Ahmad Doroudian, Chief Executive Officer of the company, purchased 2,000,000 units for a purchase price of $200,000.00. Doroudian’s participation in the brokered offering constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 (MI 61-101).

Concurrent with the closing of the brokered offering, the company closed a non-brokered private placement for gross proceeds of C$357,143 (US$250,000).

Each non-brokered unit consists of one common share and warrant. Each warrant entitles the holder to acquire one common share at an exercise price of US$0.11 at any time up to 60 months from the closing of the non-brokered offering.

BetterLife Pharma Inc. is an emerging biotechnology company developing and commercializing two compounds, BETR-001 and BETR-002, to treat neuro-psychiatric and neurological disorders.

BetterLife Pharma Inc. (BETR) was down 15.79 per cent, trading at $0.08 at 10:55 ET.


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