This article has been disseminated on behalf of Onco-Innovations Limited and may include paid advertising.
Onco-Innovations (CBOE CA: ONCO) (OTCQB: ONNVF) announced the closing of its previously announced non-brokered private placement with Sorbie Bornholm LP and Sorbie Investments LLP, representing a notional subscription amount of approximately CAD$5 million. The financing included the issuance of 7.94 million units at a notional price of CAD$0.63 per unit, with each unit consisting of one common share and one warrant exercisable at CAD$0.77 for three years. The proceeds will be made available to the company through an 18-month sharing arrangement tied to the volume-weighted average trading price of its shares, with monthly settlement amounts varying based on market performance.
Onco-Innovations said it intends to use the net proceeds received under the sharing arrangement to advance development of its ONC010 program, including manufacturing and preclinical activities, support continued development of its SynoGraph(TM) platform and provide working capital for general corporate purposes.
To view the full press release, visit https://ibn.fm/1Hrlg
About Onco-Innovations Limited
Onco-Innovations is a Canadian-based company dedicated to cancer research and treatment, specializing in oncology. Onco’s mission is to pursue the prevention and treatment of cancer through pioneering research and innovative solutions. The Company has secured an exclusive worldwide license to patented technology that targets solid tumours.
NOTE TO INVESTORS: The latest news and updates relating to ONNVF are available in the company’s newsroom at https://ibn.fm/ONNVF
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