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.
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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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