Entheon Biomedical Corp. ENTBF announced a non-brokered private placement financing for up to 30,000,000 Units at a price of CDN$0.10 per unit, for gross proceeds of up to CDN$3,000,000.
Each unit will consist of one common share in the capital of the company and one transferable share purchase warrant. Each warrant will be exercisable to acquire one additional share for a period of 36 months from the date of issue. The exercise price will be CDN$0.15 per share in year one, and CDN$0.25 in the two following years.
According to the company, the goal of the private placement is to finance research and development activities, general working capital and corporate purposes with its proceedings.
Earlier this year, Entheon had announced the approval by Dutch authorities of a Phase 1 clinical trial on DMT.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!