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news.AlphaRx has announced a proposed non-brokered private placement in conjunction with its proposed TSX Venture Exchange listing application, subject to TSX Venture Exchange approval, of 16 million units at a price of $0.10 per unit, for gross proceeds of $1.6 million.
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Each unit consists of one common share plus one-half common share purchase warrant. Each whole common share purchase warrant will enable the holder to purchase one common share at a price of $0.125 for a period of 24 months from closing. Closing of the private placement is subject to the company’s common shares being listed and posted for trading on the TSX Venture Exchange.