- Hemostemix (HEM) has closed a non-brokered offering of secured, convertible debentures for gross proceeds of $2,750,000
- The company issued 2,750 debenture units at a price of $1,000 per unit
- Each debenture unit consists of a $1,000 principal amount secured convertible debenture and 5,714 common share purchase warrants
- The net proceeds will be used for general working capital purposes
- Hemostemix is an autologous stem cell therapy company
- Shares of Hemostemix Inc. (HEM) opened trading at C$0.335
Hemostemix (HEM) has closed a non-brokered offering of secured, convertible debentures for gross proceeds of $2,750,000.
The company issued 2,750 debenture units at a price of $1,000 per unit.
Each debenture unit consists of a $1,000 principal amount secured convertible debenture and 5,714 common share purchase warrants. The debentures will mature five years from the closing date and bear interest of 8 per cent per annum, payable quarterly in cash or common shares. The debentures are secured by the company’s ACP-01 technology. The principal amount of the debentures is convertible into common shares at a price of $0.175 per common share. Each Debenture Warrant entitles the holder to acquire one Common Share at a price of $0.20 per common share for a period of 60 months from the closing of the offering.
The company has paid finder’s fees consisting of $23,440.00 in cash and 133,935 finder’s warrants.
All securities issued are subject to a four-month hold period. The net proceeds will be used for general working capital purposes.
Hemostemix is an autologous stem cell therapy company. The company has developed and is commercializing its lead product ACP-01 for the treatment of CLI, PAD, Angina, Ischemic Cardiomyopathy, Dilated Cardiomyopathy and other conditions of ischemia.
Shares of Hemostemix Inc. (HEM) opened trading at C$0.335.