NurExone Biologic Achieves Successful Capital Raise and Update

NurExone Biologic Completes Final Tranche of Private Placement

TORONTO and HAIFA, Israel — NurExone Biologic Inc. (NRX), a pioneering biopharmaceutical company, has successfully closed the final tranche of its recent non-brokered private placement. This placement marks a significant milestone as the company continues to develop its cutting-edge exosome-based therapies for the regenerative medicine market.

Overview of the Offering

The final tranche of the offering raised a substantial $127,499.90, contributing to total gross proceeds of $1,737,647.45 from the issuance of 3,159,359 units. Each unit comprises one common share and a warrant, with the latter allowing the purchase of additional shares at $0.70 each for up to 36 months.

CEO's Statement on the Placement's Success

Dr. Lior Shaltiel, the CEO of NurExone, expressed his gratitude towards investors and shareholders, stating, "We are thrilled with the success of our Private Placement. The funds will significantly aid in advancing our asset development and fulfilling corporate obligations." This positive outlook reflects the growing confidence in the company's vision and mission within the biopharmaceutical industry.

Details of the Tranche

In this second tranche, the company issued 231,818 units priced at $0.55 each. The warrants associated with these units may be subject to an accelerated expiry date based on the trading price of the company's shares, ensuring alignment with market performance.

Compliance and Future Plans

All securities distributed in this tranche are contingent upon receiving the necessary regulatory approvals. Following this, they will be under a mandatory hold period of four months and one day. The net proceeds from this offering are earmarked for working capital and general corporate purposes, enabling NurExone to thrive amidst regulatory and market challenges.

Related Party Transaction Highlights

James A. Richardson, a director of NurExone, participated as a "related party" in this placement by acquiring 50,000 units. The company has abided by regulatory exemptions concerning this transaction, as the fair market value of his participation did not exceed threshold limits.

Corporate Developments and Market Strategies

Alongside the financial milestone, NurExone announced the engagement of Independent Trading Group (ITG) and Oak Hill Financial Inc. for market-making and advisory services, emphasizing the importance of maintaining liquidity and enhancing market awareness. ITG’s role involves ensuring a balanced market for NurExone's securities, while Oak Hill will focus on stakeholder communications.

Independent Trading Group's Role

ITG is tasked with trading the company's securities across various platforms to enhance market conditions and liquidity. Their agreement stipulates a monthly fee of $5,000 for their services, with an initial term of one month.

Growing Awareness of NurExone

NurExone aims to boost its visibility through Oak Hill's strategic advice. Oak Hill will facilitate stakeholder communications and help raise awareness about NurExone’s innovative therapies and significant market potential.

About NurExone and Its Vision

NurExone Biologic Inc. is committed to developing exosome-based therapies aimed at treating central nervous system injuries. The company’s lead product, ExoPTEN, has demonstrated success in preclinical trials, with a notable recovery rate of motor functions in laboratory settings. It has also been granted Orphan Drug Designation by the FDA, showcasing its potential significance in the market.

Frequently Asked Questions

What is NurExone Biologic Inc. known for?

NurExone is a biopharmaceutical company dedicated to developing exosome-based therapies for central nervous system injuries.

Why did NurExone pursue a private placement?

The private placement provides critical funding to support asset development, working capital, and general corporate purposes.

What is the significance of the warrants issued?

The warrants allow investors to purchase additional shares at a fixed price, potentially benefiting from any increase in the share value.

How does the related party transaction affect the company?

The related party transaction was managed under regulatory exemptions, emphasizing transparency and compliance within the offering.

What role will ITG and Oak Hill play for NurExone?

ITG will act as a market maker while Oak Hill will enhance corporate communication and investor relationships, both aimed at increasing market presence.

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