NEW YORK (GenomeWeb News) – SQI today said it has raised almost C$3.85 million (US$3.81 million) in a non-brokered private placement of its stock.

The Toronto-based microarray-based diagnostics firm placed more than 5.1 million units at C$.75 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at C$1.10 for up to two years after the date of issuance.

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