SQI Diagnostics Raises $1.3M in Second Stock Placement to Support Dx Pipeline, Sales Effort | GenomeWeb

SQI Diagnostics, a Toronto-based developer of microarray-based tests, last week announced that it had closed a CDN$1.6 million ($1.3 million) second tranche of a non-brokered private placement of stock, bringing to CDN$4.6 million the total proceeds from the placement.

The publicly traded company, which closed the CDN$3 million first tranche last month, said that as a result of the round, Toronto-based FW Thompson & Company now controls 18 percent of the company’s outstanding shares. It did not disclose the names of all investors involved in the placement.

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