NEW YORK (GenomeWeb News) – SQI Diagnostics today announced a non-brokered private placement intended to raise C$3.76 million (US$3.72 million) in gross proceeds.

The Toronto-based microarray diagnostic firm said it plans to offer up to a little more than 5 million units at C$.75 per unit as part of the placement. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to buy one common share at C$1.10 for up to two years after the date of issuance.

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