Last night, biOasis Technologies announced that they have closed their non-brokered placement. The Company issued 5,797,795 units (each a “Unit”) at a price of 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.
Successfully closing this over-subscribed and upsized private placement is a key milestone for biOasis as they look to bring their patented peptide into human trials during 2017. Now that the financing is over, we can look forward and there could be some very positive catalysts coming during the course of 2017.
These potential positive catalysts for BTI.V include:
– Announcing the start of a Phase Zero study in Australia.
– Commencement of a trial under Dr. Scarpa in Italy
– Achieving milestones with Astellas and/or Vaccinex.
– Any announcement of new partners from their pipeline.
Each of these possible events has a good chance of occurring during 2017 and the investment community should be able to focus more attention on them now that the deal is over.
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