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Miraculins Nets $405K in Private Stock Placement

NEW YORK (GenomeWeb News) — Miraculins said yesterday it has pocketed CA$428,000 ($405,000) in a private stock placement by selling 1,222,858 units of certain shares at CA$.35 apiece.
 
The company said in July it could earn as much as CA$500,000 total from the sale by selling 1.25 million units at CA$.40 apiece.
 
Miraculins plans to use the money to fund research and development projects and to replenish working capital coffers.
  
Each unit sold in the offering includes one common share and one and one-half of one share purchase warrant entitling the holder to buy a share for CA$.65 over 12 months after the date of issuance.
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