PanGenomic Health Announces Non-Brokered Private Placement of up to $2,000,000

Executive Summary

• PanGenomic Health Inc. announced a private placement of up to 4,000,000 units at $0.50 per unit, targeting gross proceeds of up to $2 million.
• Each unit consists of one Class A common share and one warrant exercisable for an additional share at $0.75 within two years.
• Net proceeds will be used for general working capital and to settle outstanding indebtedness, including amounts owed to directors and officers.

Key Details

• Offering Size: Up to 4,000,000 units (each = 1 Class A common share + 1 warrant).
• Price per Unit: $0.50, for gross proceeds of up to $2,000,000.
• Warrant Terms: One‑share purchase warrant per unit; exercisable at $0.75 per share for a period of two years from issuance; subject to acceleration.
• Use of Proceeds: General working capital and repayment of outstanding indebtedness (including amounts owed to certain directors and officers).
• Regulatory Hold Period: Four months plus one day on all securities issued in the offering.
• Closing Timeline: Offering will close no earlier than five business days after this announcement, subject to CSE policies.
• Insider Participation: Certain directors and officers may participate; expected participation ≤ 25% of fair market value of the company’s market capitalization, qualifying for exemption from formal valuation and minority shareholder approval under MI 61‑101.
• Jurisdictional Disclaimer: Offering not made in the United States; securities are unregistered under U.S. federal and state securities laws and may be offered only pursuant to applicable exemptions.

Notable Quotes

(No direct quotes were provided in the release.)