Grey Matters Announces CAD $800K of Private Placement Equity Financing and Convertible Debentures
Grey Matters Health Inc. announced a non-brokered private placement financing for aggregate gross proceeds of CAD $800,000, consisting of CAD $500,000 in equity units and CAD $300,000 in convertible debentures. The equity units are priced at $0.40 per share and include warrants exercisable at $0.60, while the unsecured convertible debentures carry a 10% annual interest rate and are convertible at $0.455 per share. Proceeds from the offering are intended to advance the company's Alzheimer's Disease program towards opening U.S.
Key figures
- Equity unit price
- 0.4
- Gross proceeds cad
- 800000
- Equity proceeds cad
- 500000
- Debenture proceeds cad
- 300000
- Warrant exercise price
- 0.6
- Debenture interest rate
- 10%
- Debenture conversion price
- 0.455
- Debenture warrant exercise price
- 0.55
AI analysis
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