biOasis Technologies closes oversubscribed $4M financing

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By CPE News

Vancouver (pcJ News Briefs) – biOasis Technologies Inc. (TSX-V: BTI; OTCQB: BIOAF) has closed previously announced non-brokered placement of 5,797,795 units at CDN $0.70 per unit for gross proceeds of CDN $4,058,457.

Each unit consists of one common share and one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $1.00 per share for a period of twenty-four months from the date of closing, subject to accelerated expiry.

A cash finder’s fees of CDN $236,174.40 was paid on a portion of the financing.

Proceeds have been added to working capital in furtherance of the company’s business.

biOasis Technologies Inc. is a biopharmaceutical company focused on overcoming the limitations of therapeutic drug delivery across the BBB. The company is developing and commercializing a proprietary brain delivery technology to address unmet medical needs in the treatment of central nervous system disorders.

photo credit: biOasis Technologies