Source: MyndTec Inc.
  • MyndTec (MYTC) has launched a non-brokered private placement of up to 1,333,333 units
  • The units will be offered at a price of $0.75 per unit to raise aggregate gross proceeds to the company of up to $1,000,000
  • MyndTec intends to use the net proceeds of the offering to fund corporate expenditures, sales and marketing initiatives, and general working capital purposes
  • MyndTec Inc is a medical technology company
  • MyndTec Inc. (MYTC) opened trading at $0.90 per share

MyndTec (MYTC) has launched a non-brokered private placement for gross proceeds of up to $1,000,000.

The company will issue up to 1,333,333 units for $0.75 per unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant may be exercised to acquire one common share at an exercise price of $0.90 for a period of 36 months.

The company has the option to sell up to an additional 266,666 units for additional gross proceeds of up to $200,000.

MyndTec intends to use the net proceeds of the offering to fund corporate expenditures, sales and marketing initiatives, and general working capital purposes in respect of the development of the company’s two functional electrical stimulation (FES) products – MyndMoveand MyndStep.

All securities issued will be subject to a statutory hold period of four months from the closing date.

MyndTec Inc is a medical technology company. It researches, develops and distributes innovative therapies designed to improve function, maximize independence and enhance the quality of life for individuals with upper limb paralysis due to stroke, spinal cord injury or traumatic brain injury.

MyndTec Inc. (MYTC) opened trading at $0.90 per share.


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