NEW YORK (GenomeWeb News) – Microarray diagnostics firm SQI said Monday that it has raised gross proceeds of C$1.5 million (US$1.3 million) through a non-brokered private placement.

The Toronto-based firm placed almost 3 million units at C$.50 per unit, with each unit consisting of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of C$.65 for two years from the date of issuance.

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