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BioHarvest Sciences (CSE: BHSC, OTCQB: CNVCD, FSE: 8MV) has successfully closed the first tranche of its private placement, raising USD $4,329,982.62. The company issued 603,904 share units at USD $7.17 per unit. Each unit includes one common share, one-quarter of a USD $7.68 warrant expiring in 6 months, and one-quarter of a USD $11.52 warrant expiring in 18 months. These funds will support the CDMO business unit, expand manufacturing capabilities, and cover general corporate expenses.
Additionally, BioHarvest announced the conversion of CAD $288,933.09 in convertible debt notes from previous financing rounds into 33,697 common shares. The company also issued 20,242 'Early Exercise' warrants at USD $7.70, expiring on December 22, 2025. Over 93% of the company's convertible notes have now been exercised.
BioHarvest Sciences is set to present at the Noble Capital Markets Virtual Equity Conference on June 27, 2024. CEO Ilan Sobel will host virtual one-on-one meetings with institutional investors and deliver a presentation at 1:30 p.m. Eastern time. The event is open for media and investor registration via the provided link, and the presentation will be available as a video webcast post-event on BioHarvest's website and ChannelChek. The webcast will be archived on Channelchek.com for 90 days. For more information or to schedule a meeting, contact MZ Group.
BioHarvest Sciences announced a private placement of up to USD $5 million, offering 697,350 units at USD $7.17 per unit. Each unit includes one common share and warrants allowing purchase at USD $7.68 and USD $11.52 within specified periods. The funds will support the expansion of their CDMO business and general corporate purposes. Additionally, the company converted CAD $1.33 million of debt notes into 161,620 common shares, issuing 114,236 early exercise warrants. Over 90% of their convertible notes have now been exercised.
BioHarvest Sciences, a leader in Botanical Synthesis technology, is set to present at the Sidoti Small-Cap Virtual Investor Conference on June 13, 2024. CEO Ilan Sobel will hold virtual one-on-one meetings with institutional investors and deliver a presentation at 11:30 a.m. Eastern time. Interested parties can join the presentation via a live webcast. Registration is required for participation, and an archive of the presentation will be available for later viewing.
BioHarvest Sciences has reported record monthly sales of $1.98 million for May 2024, driven by a 101% year-over-year increase in sales orders for its VINIA product. This growth was primarily fueled by strong subscription rates and the introduction of new products like VINIA Superfood Coffee.
The company has also surpassed 5,000 customer reviews, with an average rating of 4.8 out of 5. CEO Ilan Sobel highlighted the effectiveness of their Direct-to-Consumer strategy and the potential for further revenue growth through new product lines and marketing programs.
BioHarvest aims to achieve revenues of $5.7-6.0 million for Q2 2024 and is targeting a Nasdaq uplisting by the end of the year.
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