Onco-Innovations arranges $2-million private placement

Executive Summary

• Onco-Innovations Ltd. announced a non-brokered private placement of up to 2,272,727 units at $0.88 per unit, targeting aggregate gross proceeds of up to $2 million.
• Each unit consists of one common share and one-half of one common share purchase warrant, with warrants exercisable at $1.10 for 36 months.
• Proceeds are intended for general corporate and working capital purposes, including operational, R&D, and investor relations activities.

Key Details

• Transaction Structure: Non-brokered private placement of up to 2,272,727 units.
• Price: $0.88 per unit.
• Gross Proceeds: Up to $2,000,000.
• Unit Composition: Each unit comprises one common share and one-half of one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one share at an exercise price of $1.10 for a period of 36 months.
• Administrative Fee: The company intends to issue shares equal to 1.0% of the total shares issued in the private placement to an arm's-length third party as an administrative fee for assistance with the placement.
• Finders' Fees: The company may pay finders' fees and/or issue finders' warrants on the same terms as the investor warrants to eligible parties who introduced subscribers.
• Use of Proceeds: General corporate and working capital purposes, including pursuit of operational and research and development objectives, and investor relations.
• Closing Conditions: Subject to regulatory and other necessary approvals.
• Hold Period: All securities issued are subject to a statutory hold period of four months and one day.

Notable Quotes

• None provided in the text.