Cognetivity Neurosciences (CSE: CGN) is looking to close out the year with a capital raise. The firm last night indicated it intends to conduct a non-brokered private placement for gross proceeds of $3.0 million.
The financing will see the company sell roughly 5.5 million units, with each unit being priced at $0.55 per each. Each unit is set to contain one common share and one half of a purchase warrant, with each warrant valid for a period of three years and containing an exercise price of $0.85 per share.
Proceeds from the offering are to be used to expand the firms operations in the US, customer and technical support, marketing, and general operations.
The financing is currently slated to close by January 31, 2022.
Cognetivity Neuroscience last traded at $0.56 on the CSE.
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