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Miraculins Offers up to $470K in Placement

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) - Canadian diagnostics developer Miraculins aims to gain up to C$500,500 ($469,200) in gross proceeds through a private placement of as many as 7,150,000 units priced at C$.07 per unit.

The firm, which trades on the TSX Venture Exchange, said on Tuesday that it plans to use the proceeds from the placement for research and development and for corporate working capital.

The units in the placement will include one common share and one share purchase warrant, priced at C$.10. The warrants will be callable by the company if the share price rises above C$.14 for any 20 out of 30 consecutive trading days.