PreveCeutical Announces Up-Sized Non-Brokered Private Placement
Summary
Each Warrant entitles the holder thereof to purchase an additional Share (each, a "Warrant Share") at an exercise price of $0.05 per Warrant Share for a period of 24 months from the closing of the Offering (the "Closing"), subject to an acceleration right, whereby the expiry date of the Warrants may be accelerated if the daily closing price of the Shares equals or exceeds $0.08 or greater on the Canadian Securities Exchange ("CSE") (or such other recognized securities exchange on which the Shares may then trade) for a minimum of ten consecutive trading days, in which event the Company may accelerate the expiry of the Warrants by givings notice via news release and, in such case, all of the then unexercised Warrants will expire on the 30th day after the date on which the news release is disseminated (the "Acceleration Right").The Company intends to use the aggregate gross proceeds from the sale of the Offering to pay outstanding payables, for operating expenses and for general working capital purposes. The Company may pay finders fees in connection with the Offering.Closing of the Offering is subject to receipt of all necessary regulatory approvals, including from the CSE. PreveCeutical aims to be a leader in preventive health sciences and currently has five research and development programs, including: dual gene therapy for curative and prevention therapies for diabetes and obesity; the Sol-gel Program; Nature Identical peptides for treatment of various ailments; nonaddictive analgesic peptides as a replacement to the highly addictive analgesics such as morphine, fentanyl and oxycodone; and a therapeutic product for treating athletes who suffer from concussions (mild traumatic brain injury). For more information about PreveCeutical, please visit www.PreveCeutical.com, follow us on Twitter: http://twitter.com/PreveCeuticals and Facebook: www.facebook.com/PreveCeutical.On behalf of the Board of Directors of PreveCeutical Stephen Van Deventer, Chairman and Chief Executive Officer For further information, please contact:Neither the CSE nor any Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/248521