Tuesday, 27 March 2007

Med BioGene to raise $4 million

Med BioGene entered an agreement with Fraser Mackenzie Limited for it to act as exclusive lead agent in connection with a private placement of $4 million.
Each unit is expected to be issued at a price of $0.50 per unit and will consist of one common share and one-half of one common share purchase warrant.
Each whole common share purchase warrant will entitle the holder to purchase one common share at a price of $0.80 for a period of 18 months following the closing date of the Private Placement.
Subject to demand, the amount raised under the Private Placement may exceed $4 million prior to closing.

To view the full news release, click here.