Alpha Cognition Announces Final Closing of Private Placement Offering and Completion of the Overallotment
Summary
VANCOUVER, British Columbia--(BUSINESS WIRE)-- Alpha Cognition Inc. (CSE: ACOG, OTCQB: ACOGF) (Alpha Cognition or the Company) announces that it has completed a final closing pursuant to its previously announced private placement of units of the Company. Pursuant to the final closing, the Company issued 16,965,762 units of the Company at a price of US$0.22 per unit for gross proceeds of US$3,732,467. Each unit consists of a common share and a warrant, with each warrant entitling the holder to purchase an additional common share at a price of US$0.31 for a period of three years. The gross proceeds of the offering received to date are US$8.45 million, which includes shares of the fully subscribed 30% overallotment. The Company expects to use the net proceeds from the private placement for research and development, general and administrative matters, and working capital.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America.