Source: Marvel Biosciences Corp.
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  • Marvel Biosciences Corp. (MRVL)  has closed a non-brokered private placement for gross proceeds of $720,000
  • The company issued 7,200,000 units for $0.10 per unit
  • The proceeds will be used to fund drug formulation, toxicology studies and for general working capital purposes
  • Marvel Biosciences Corp is a life sciences company focused on the discovery and the development of a synthetic derivative compound of a known proven drug
  • Marvel Biosciences Corp. opened trading at C$0.105

Marvel Biosciences Corp. (MRVL)  has closed its previously announced non-brokered private placement for gross proceeds of $720,000.

The company issued 7,200,000 units for $0.10 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional share for $0.15 for a period of one year, pending an acceleration clause.

The company paid finders fees of $26,000 in cash commission to Research Capital Corporation, Raymond James Ltd. and Canaccord Genuity Corp. 

The proceeds will be used to fund drug formulation, toxicology studies and for general working capital purposes.

All securities issued are subject to a statutory four month hold period. Marvel Biosciences Corp is a life sciences company focused on the discovery and the development of a synthetic derivative compound of a known proven drug.

Marvel Biosciences Corp. opened trading at C$0.105.


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