Innocan Pharma Announces Pricing of Marketed Short Form Prospectus Offering of Units
Innocan Pharma Corporation (CNSX: INNO) (FSE: IP4) , is pleased to announce that it has priced its previously announced marketed offering of units of the Company (the “Units“) at a price of $0.20 per Unit to raise aggregate gross proceeds of up to $10,000,000.
Each Unit shall be comprised of one common share of the Company and one Common Share purchase warrant of the Company. Each Warrant is exercisable into one Common Share at a price of $0.25 for a period of 36 months following completion of the Offering.
The Offering is being led by Mackie Research Capital Corporation, as sole bookrunner, and Canaccord Genuity Corp. as co-lead agents, together with Haywood Securities Inc. and PI Financial Corp.
The net proceeds raised under the Offering will be used for research and product development expenses, sales and marketing expenses, operating expenses and general and administrative expenses as well as for working capital and general corporate purposes.
The closing of the Offering is currently expected to be on or about the week of May 28, 2020 and is subject to certain conditions
