Pangenomic arranges $2-million private placement

Executive Summary

• Pangenomic Health Inc. announced a non-brokered private placement of up to four million units at $0.50 per unit, targeting gross proceeds of up to $2,000,000.
• The proceeds are designated for general working capital and the settlement of outstanding indebtedness, including debts owed to directors and officers.
• Each unit consists of one Class A common share and one share purchase warrant exercisable at $0.75 per share for a two-year period.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Offered: Up to 4,000,000 units.
• Price: $0.50 per unit.
• Gross Proceeds: Up to $2,000,000.
• Use of Proceeds: General working capital and settlement of outstanding indebtedness (including amounts owed to directors and officers).
• Warrant Terms: Each unit includes one share purchase warrant.
• Warrant Exercise Price: $0.75 per warrant share.
• Warrant Expiry: Two years from the date of issuance, subject to acceleration.
• Regulatory Conditions: A regulatory hold period of four months plus one day applies to all securities issued.
• Closing Timeline: The offering will close no earlier than five business days from the announcement date, per Canadian Securities Exchange policies.
• Insider Participation: Certain directors and officers are expected to participate, constituting a related-party transaction. The company expects exemptions from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101, as insider participation is not expected to exceed 25% of the company's market capitalization.