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news.Kane Biotech has announced a non-brokered private placement offering of four million units at a price of $0.25 per unit for gross proceeds of up to $1 million.
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Each unit will be comprised of one common share of the company and one half of one share purchase warrant. Each whole warrant will entitle the holder to purchase one share at a price of $0.40 for a period of 18 months from the date the warrant is issued. The net proceeds of the offering will be used for the company’s research and development program and for working capital purposes.