Sona Nanotech Announces $2.0 Million Private Placement

Sona Nanotech (CSE: SONA) this morning announced that it is looking to raise funds via a private placement. The company intends to raise a total of $2.0 million via a non-brokered private placement.

The financing will see a total of 2.0 million units of the company sold at $1.00 a piece, with each unit containing one common share an one half of a common share purchase warrant. Each warrant contains an exercise price of $1.25 per share and is valid for a period of two years from the date of issue.

Funds raised from the financing are to be used to generate further clinical data for the firms rapid COVID-19 nasal antigen test, as well as to pursue a European self-certification CE Mark designation, and to pursue further development and clinical trial validation work for the firms saliva-based COVID-19 test. Funds are to also be used for general working capital.

Furthermore, the company also announced that it has appointed Obelis S.A as its authorized rep in the European Union to complete the CE Mark process for its diagnostic devices. As part of the process, the two firms will work together to compile the required technical information to acquire the CE designation, as well as with the firms contract manufacturer to complete the tech transfer required for its batch production runs.

Sona Nanotech last traded at $1.02 on the CSE.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Related News

Tesla Halts Shanghai Plant Production Due to Covid-19 Restrictions

Tesla (NASDAQ: TSLA) has reportedly decided to halt production at its Shanghai plant for several...

Monday, March 28, 2022, 05:34:00 PM

Not Bats, But Raccoons Could’ve Started The COVID-19 Pandemic – Experts

An international team of virus experts announced on Thursday that they had discovered genetic data...

Friday, March 17, 2023, 03:09:00 PM

Market Movers: SONA Nanotech, Again

Sona Nanotechnologies Inc. (CSE: SONA) has been a fixture of the CSE’s dollar-weighted volume leaders...

Friday, July 24, 2020, 11:20:54 AM

Theresa Tam Sits Down With Mrs. Clause To Tell Kids They’re On The ‘Good List’ If Vaccinated

In what is likely the most uncomfortable and cringiest video of 2022, Canada’s Chief Public...

Saturday, December 24, 2022, 09:00:00 AM

Relay Medical Joint Venture Sees COVID-19 Device Launched In Rural Texas Hospitals

Relay Medical Corp (CSE: RELA) this morning announced that its joint venture with Fio Corp,...

Monday, November 23, 2020, 08:15:11 AM