Final Short Term Prospectus and other Related Documents now on SEDAR
posted on
Jun 04, 2019 01:02PM
Thanks to G1945V over on Stockhouse for the heads up. A few things caught my eye.
Looking to sell between 3,250,000 and 5,000,000 units for net proceeds of $12,090,000 and $18,880,000.
First closing expected on or around June 7, 2019
Top-line expected mid-calendar year 2019
"If the BETonMACE trial were successful, then the Corporation would plan to enter into a partnering arrangement with a pharmaceutical company to fund some or all of the costs associated with the commercialization process."
"If the Offering is completed, it is expected that the net proceeds of the Offering, together with the Corporation’s available cash, will only be sufficient to fund operating activities until July 31, 2019. The Corporation will need to raise additional capital to remain in compliance with covenants applicable to its Secured Loan (as defined herein), to repay the balance of the Secured Loan at the maturity date of August 4, 2019 and to fund continued operations beyond that time period."