Source: Hemostemix Inc.
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  • Hemostemix (HEM) has closed the first tranche of its non-brokered private placement for gross proceeds of $373,500
  • The company issued 1,494,000 units at a price of $0.25 per unit
  • Proceeds will be used to pay current filing and regulatory fees, ongoing clinical trial costs and general working capital
  • Hemostemix is an autologous stem cell therapy company
  • Hemostemix Inc. (HEM) is down 5 per cent, trading at C$0.19 per share at 1:30 pm ET

Hemostemix (HEM) has closed the first tranche of its non-brokered private placement for gross proceeds of $373,500.

The company issued 1,494,000 units at a price of $0.25 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one share at a price of $0.55 for a period of 24 months from the closing of the offering.

The company paid a cash finder fee of approximately $25,270 and issued 101,080 warrants.

Proceeds will be used to pay current filing and regulatory fees, ongoing clinical trial costs, with the balance to 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.

Hemostemix Inc. (HEM) is down 5 per cent, trading at C$0.19 per share at 1:30 pm ET.

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