ME Therapeutics Closes Over-Subscribed Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
ME Therapeutics Holdings Inc. (“ME Therapeutics” or the “Company”) (CSE: METX) (FSE: Q9T), a publicly listed biotechnology company working on novel cancer fighting drugs that reprogram and redirect immune cells to fight cancer, is pleased to announce that it has closed its previously announced non-brokered private placement for aggregate proceeds of $576,500.60 (the “Financing”).
Closing of the Financing
The Financing consisted of the issuance of 339,118 units of the Company (each a “Unit”) at a price of $1.70 per Unit, with each Unit compromising one common share (a “Share’) and one non-transferrable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share at an exercise price of $2.00 for three years from the date of issuance, subject to an acceleration clause whereby, if the volume weighted average price of the Shares is at or above $3.00 per Share for ten consecutive trading days, the Company may accelerate the expiry date upon 30 days’ notice (the “Acceleration Provision”).
