Ovation Science arranges $200,000 private placement

Executive Summary

• Ovation Science Inc. announced a non‑brokered private placement of up to 4 million units at $0.05 per unit, targeting gross proceeds of up to $200,000.
• Each unit consists of one common share and one warrant to purchase an additional share at $0.05 for 24 months; the offering includes statutory hold periods and finder/broker compensation arrangements.
• Proceeds will be used to advance Ovation’s business operations and general working capital.

Key Details

• Offering size: Up to 4,000,000 units.
• Price per unit: $0.05 (equivalent to $0.05 per common share and $0.05 per warrant).
• Maximum gross proceeds: $200,000.
• Unit composition: 1 common share + 1 share‑purchase warrant.
• Warrant terms: Right to purchase an additional share at $0.05 per share; exercisable for 24 months from issuance.
• Statutory hold period: Units subject to a four‑month and one‑day hold from the date of issuance.
• Finder compensation: Cash fee equal to 8 % of gross proceeds attributable to finder introductions, or alternatively, warrants equal to 8 % of units subscribed via the finder.
• Broker’s warrants: Same exercise price ($0.05) and term (24 months).
• Use of proceeds: To advance Ovation Science’s business activities and for general working capital purposes.

Notable Quotes

(No direct quotes were provided in the release.)