PreveCeutical Closes Final Tranche of Up-Sized Non-Brokered Private Placement
Summary
In total, PreveCeutical has raised $748,383 through the issuance of an aggregate of 24,946,100 Units at a price of $0.03 per Unit.Each Unit is comprised of one (1) common share (each, a "") in the capital of the Company and one-half (1/2) of one Share purchase warrant (each whole warrant, a ""). Each Warrant entitles the holder thereof to purchase an additional Share (each, a "") at an exercise price of $0.05 per Warrant Share for a period of 24 months from the closing of the Final Tranche (the ""), 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 ("") (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 giving notice via news release and, in such case, all of the then unexercised Warrants will expire on the 30day after the date on which the news release is disseminated (the "").In connection with the Final Tranche Closing, the Company paid finders fees to an eligible finder comprised of $12,670.56 in cash and issued 422,352 Finders Warrant (each, a ""). The Finders Warrant are exercisable into one additional Share at an exercise price of $0.05 per Share for 24 months from the Final Tranche Closing, subject to the Acceleration Right.The Company intends to use the aggregate gross proceeds of the Final Tranche to pay outstanding payables, for operating expenses and for general working capital purposes.All securities issued in relation to the Final Tranche are subject to a hold period expiring four months and one day after the Final Tranche Closing, in accordance with applicable securities laws.The securities issued under the Offering, including those in the Final Tranche, have not been and will not be registered under the United States, as amended (the ""), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act. 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 our websiteor follow us onandStephen Van Deventer, Chairman and Chief Executive OfficerStephen Van Deventer: +1 604 306 9669 OrInvestor RelationsTo view the source version of this press release, please visit