- NervGen Pharma (NGEN) has closed a non-brokered private placement for aggregate gross proceeds of $2,321,075
- The company issued 892,721 units at a price of $2.60 per unit
- Proceeds will be used for the continued development of their lead drug candidate, NVG-291, and general corporate purposes
- NervGen is restoring life’s potential by creating innovative treatments for nervous system injury
- NervGen Pharma Corp. (NGEN) is up 6.77 per cent on the day, trading at 2.84 per share at 12 pm EST
NervGen Pharma (NGEN) has closed a non-brokered private placement for aggregate gross proceeds of $2,321,075.
The company issued 892,721units at a price of $2.60 per unit.
“We appreciate the support of our shareholders, many of whom were unable to fully participate in our recent financing,” said Bill Radvak, NervGen’s Executive Chairman.
“These funds will support our ongoing development programs and importantly, the increased legal, insurance and other costs associated with a potential up-listing to a senior US exchange in the near future.”
Each unit issued consisted of one common share and one-half of one common share purchase warrant. Each warrant is exercisable into one common share at a price of $3.20 per share until November 29, 2023.
All of the securities issued are subject to a four month and one day hold period.
Proceeds will be used for the continued development of their lead drug candidate, NVG-291, and general corporate purposes.
NervGen Pharma paid certain finders a cash fee totaling $20,430.
NervGen is restoring life’s potential by creating innovative treatments for nervous system injury due to trauma or disease of the nervous system.
NervGen Pharma Corp. (NGEN) is up 6.77 per cent on the day, trading at 2.84 per share at 12 pm EST.