Relay Medical Receives $3.0 Million From Option And Warrant Exercises
Relay Medical (CSE: RELA) last night announced that the company has seen total cash inflows from investors of $3.0 million. The inflows follow the exercise of both warrants and options, given the recent rise in the pricing of the firms equity.
All told, a total of 9.4 million common share purchase warrants and 1.9 million options were exercised by investors recently. Proceeds from the exercises will be used for general working capital purposes.
The advent of these exercises further strengthens the firms financial position, which was already in an excellent spot following an $8.6 million private placement completed by the firm last month. That placement saw a total of 42.9 million units sold at a price of $0.20 per unit, for gross proceeds of $8,572,500.
Relay Medical last traded at $0.63 on the CSE.
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