- BioMark Diagnostics (BUX) has closed a non-brokered private placement for gross proceeds of $1,265,500
- BioMark issued 5,062,000 units at a price of $ 0.25 per unit
- Each unit consists of one common share of BioMark and one-full purchase warrant
- The company issued 1,040,000 units to settle $260,000 in debt to a related party
- BioMark is a company that is developing its advanced-stage cancer diagnostic business
- BioMark Diagnostics Inc. opened trading at $0.215 per share
BioMark Diagnostics (BUX) has closed a non-brokered private placement for gross proceeds of $1,265,500.
BioMark issued 5,062,000 units at a price of $ 0.25 per unit. Each unit consists of one common share of BioMark and one-full purchase warrant. One whole share purchase warrant will entitle the holder to purchase one common share of BioMark at $0.45 per share for a period of two years.
Warrants are subject to an acceleration clause.
The securities issued under the private placement will be subject to a four-month hold period.
The company issued 1,040,000 units to settle $260,000 in debt to a related party.
“We appreciate the trust and support of our long-standing investor and Advisory Board member who participated in the round,” stated Rashid Bux, CEO and President of BioMark.
“It is very encouraging to know that this group of strategic investors have deep conviction on BioMark’s cancer diagnostic platform and its ability to commercialize its dynamic early lung cancer test within the next 12-18 months,” he added.
The company was also successful in securing a non-dilutive line of credit up to $235,000 through its subsidiary BioMark Diagnostic Solutions Inc.
The $1,500,500 in working capital will be used by the company to prepare for a large-scale lung cancer screening program in Quebec and perform business development activities in the U.S.
BioMark is a company that is developing its advanced-stage cancer diagnostic business.
BioMark Diagnostics Inc. (BUX) opened trading at $0.215.