Vaxil Bio Ltd. Moves Forward with Non-Brokered Funding Plans
Exploring Vaxil Bio Ltd.'s Recent Funding Initiative
Vaxil Bio Ltd. (TSXV: VXL) has officially announced its intentions to proceed with a non-brokered private placement, marking an important step in supporting its business strategies. This initiative aims to issue up to 2,456,140 units at a price of $0.1425 per unit, allowing the company to raise gross proceeds of up to $350,000.
Details of the Offering
Each unit will consist of one common share, accompanied by a share purchase warrant. These warrants offer the holder the opportunity to secure additional shares at a pricing of $0.19 each, effectively locking in potential advantages as the company evolves over the next five years.
Funding Objectives
The net proceeds from this private placement are intended to reinforce Vaxil's general corporate purposes. This could include research, development, and operational enhancements critical to their biotechnology pursuits.
Conditions for Closing the Offering
The successful closing of this offering hinges on several stipulations, one of which is necessary approval from the TSX Venture Exchange. The company anticipates that the offering will complete around a significant date in the near future. By securing these funds, Vaxil takes proactive measures that unfold as it strategizes for growth.
Finder’s Fees and Hold Period
In accordance with the terms of the offering, Vaxil has also agreed to compensate select finders with a cash commission of up to 8% of the gross proceeds raised. Additionally, finders will receive non-transferrable warrants equating to 8% of the total units issued. These units, shares, and corresponding warrants will undergo a standard hold period of four months and one day as per applicable securities laws.
About Vaxil Bio Ltd.
Vaxil is recognized as an innovative immunotherapy biotechnology company dedicated to combatting critical cancer markers and infectious diseases. One of its standout products, ImMucin™, has gained acknowledgment for its therapeutic potential by receiving orphan drug designation from reliable health authorities. Currently, Vaxil is exploring further business avenues that may, or may not, align directly with its initial focus on biotechnology, all aimed at increasing shareholder value.
Future Directions for Vaxil
As the company forges ahead, the expansion of its business model could open up pathways for novel projects that enhance the impact of its existing portfolio. Embracing various strategic directions underscores the company’s commitment to sustainability and development within the biotechnology sector.
Contact Information
For those interested in learning more about Vaxil and its plans, further information can be sought through https://vaxil-bio.com/, or directly contacting Gadi Levin, CEO at info@vaxil-bio.com or via phone at 647-558-5564.
Frequently Asked Questions
What is the purpose of Vaxil's private placement?
The private placement is aimed at raising funds to support Vaxil's general corporate purposes, including potential R&D projects.
How much capital is Vaxil looking to raise?
Vaxil intends to raise gross proceeds of up to $350,000 through this offering.
What is included in each unit of the private placement?
Each unit consists of one common share and a share purchase warrant, providing additional investment opportunities.
What is the hold period for the securities offered?
The units, shares, and warrants will be subject to a hold period of four months and one day from their issuance date.
Who can I contact for more information about Vaxil?
Interested parties can reach out to Gadi Levin, CEO, or visit Vaxil's official website for more details.
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