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StageZero Raising C$4.2M in Private Placement of Stocks, Warrants

This article has been updated to correct the gross proceeds from the purchase agreement. It is C$4.2 million, not C$2.4 million.

NEW YORK – StageZero Life Sciences has entered into a securities purchase agreement for the private placement of its common shares and warrants to purchase common shares for gross proceeds of approximately C$4.2 million (US$3.3 million), the company announced on Wednesday.

StageZero is issuing 9,375,002 common shares and warrants to purchase up to an aggregate of 9,375.002 common shares at C$.448 per share and associated warrant. Each warrant entitles its holder to purchase one common share at an exercise price of C$.56 per share over four years from the issuance date.

StageZero will use the placement's net proceeds to accelerate its global growth strategy and support further commercialization of its Aristotle mRNA-based multicancer test panel and its AVRT comprehensive telehealth program.

The private placement, exclusively managed by HC Wainwright, is expected to close on or about Nov. 26. The company previously raised C$2.7 million in 2019.

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