Gemina Laboratories Ltd.

Gemina Announces Private Placement Offering

Gemina Laboratories announced that a previously announced debenture offering raised $3,000,000, providing the capital needed to restructure over $6.2 million in debt and restart operations. The company launched a new non-brokered private placement of common shares priced at $0.03 per share, aiming to raise up to $1.5 million exclusively from existing shareholders. If the private placement reaches its maximum, holders of the $3 million in debentures have agreed to settle their debt for common shares at $0.01 each, releasing their security interest in the company's intellectual property. John Davies, a member of the founding team, has resigned from the Board of Directors.

•3mo ago