2015-04-06 11:25 ET – News Release
Mr. Craig Schneider reports
INMED PHARMACEUTICALS, INC. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT FOR UP TO C$1,000,000
InMed Pharmaceuticals Inc. will conduct a non-brokered private placement of up to four million units at a price of 25 cents per unit for aggregate gross proceeds of up to $1-million. Each unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will be exercisable by the holder to acquire one additional common share at a price of 40 cents for a period of 12 months following the closing of the financing.
Completion of the private placement is subject to receipt of regulatory approval. All securities issued will be subject to a statutory four-month hold period under applicable securities laws.
The net proceeds from this private placement will be used for general working capital purposes. Finders’ fees in cash or warrants may be payable in accordance with the policies of the exchange.
We seek Safe Harbor.