Mindbio increases placement to $1.5-million

Executive Summary

• Mindbio Therapeutics Corp. is upsizing its non-brokered private placement from $650,000 to up to $1.5 million.
• The company intends to issue up to 2.5 million units at a price of $0.60 per unit, consisting of one common share and one share purchase warrant per unit.
• Completion of the offering is subject to final board and regulatory approvals.

Key Details

• Transaction Type: Upsize of non-brokered private placement.
• Gross Proceeds: Up to $1.5 million (increased from previous $650,000).
• Unit Price: $0.60 per unit.
• Quantity: Up to 2.5 million units.
• Unit Composition: Each unit consists of one common share and one share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.80 per share.
  • Duration: 36 months following closing.
  • Accelerated Expiry: Triggered if the closing price of shares on the Canadian Securities Exchange exceeds $1.00 for 10 consecutive trading days.
• Resale Restrictions: All securities are subject to a 4-month and 1-day hold period.
• Finders' Fees: The company will pay finders' fees to eligible third parties who introduced subscribers.
• Regulatory Status: Subject to final board and regulatory approvals.

Notable Quotes

• None provided in the text.