Burcon NutraScience Corporation Announces Closing of C$11.5 Million Bought Deal
Summary
Vancouver, February 19, 2020 / Burcon NutraScience Corporation (the Company or Burcon) (TSX:BU) is pleased to confirm the closing of its previously announced bought deal offering for gross proceeds of C$11,500,690 (the Offering).Co-lead underwriters Canaccord Genuity Corp. and Beacon Securities Limited, together with Eight Capital and Paradigm Capital Inc. (collectively, the Underwriters) purchased from Burcon, on a bought deal basis, 6,452,000 units of the Company (Units) at a price of C$1.55 per Unit for gross proceeds of C$10,000,600. Each Warrant will be exercisable to acquire one Common Share at an exercise price of $2.00 for a period of 24 months from the closing of the Offering.The net proceeds of the Offering will be used by the Company for research and development activities, the maintenance, strengthening and expansion of its patent portfolio and general corporate purposes.We are pleased to have completed this bought deal financing, said Johann F. Tergesen, Burcons president and chief executive officer, adding, The funds will enable Burcon to further accelerate our key opportunities and the development of our nutritious and great-tasting plant-based proteins.The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. Forward looking statements or forward-looking information can be identified by words such as anticipate, intend, plan, goal, project, estimate, expect, believe, future, likely, may, should, could, will and similar references to future periods. Important factors that could cause actual results to differ materially from Burcons plans and expectations include the actual results of business negotiations, marketing activities, adverse general economic, market or business conditions, regulatory changes and other risks and factors detailed herein and from time to time in the filings made by Burcon with securities regulators and stock exchanges, including in the section entitled Risk Factors in Burcons annual information form dated June 28, 2019 filed with the Canadian securities administrators on www.sedar.com. Any forward-looking statement or information only speaks as of the date on which it was made and, except as may be required by applicable securities laws, Burcon disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.