Source: Algernon Pharmaceuticals.
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  • Algernon Pharmaceuticals (AGN) has announced a non-brokered private placement for gross proceeds of $1,402,125
  • The company will issue up to 373,900 units for $3.75 per unit
  • Proceeds will be used to fund research and development programs and for working capital purposes
  • Algernon is a drug re-purposing company that investigates already approved drugs for new disease applications
  • Shares of Algernon Pharmaceuticals Inc. (AGN) opened trading at C$4.00

Algernon Pharmaceuticals (AGN) has announced a non-brokered private placement for gross proceeds of $1,402,125.

The company will issue up to 373,900 units for $3.75 per unit. Each unit will consist of one Class A common share and share purchase warrant. Each warrant will entitle the holder to acquire one additional common share for a period of five years.

Warrants are subject to an acceleration clause.

All securities issued will be subject to a statutory four-month hold period.

Proceeds will be used to fund research and development programs, general and administrative expenses and for working capital purposes.

Algernon is a drug re-purposing company that investigates safe, already approved drugs, including naturally occurring compounds, for new disease applications.

Shares of Algernon Pharmaceuticals Inc. (AGN) opened trading at C$4.00.


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