Gemina Laboratories Announces Private Placement
Rhea-AI Summary
Gemina Laboratories (CSE:GLAB, OCTQB:GLABF) has announced a non-brokered private placement offering of up to 9,333,333 common shares at $0.75 per share, aiming to raise gross proceeds of up to $7,000,000. The funds will be used to accelerate platform development, expand production, support business development and commercialization activities, and provide working capital. The securities issued will have a four-month and one-day statutory hold period in Canada.
Positive
- Raising up to $7 million in new capital
- Funds allocated for platform development and production expansion
- Investment in business development and commercialization activities
Negative
- Potential dilution of existing shareholders through new share issuance
- Four-month lock-up period for new shares
News Market Reaction 1 Alert
On the day this news was published, GLABF declined 5.09%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC / ACCESSWIRE / November 13, 2024 / Gemina Laboratories Ltd. (CSE:GLAB)(FRA:8I7)(OCTQB:GLABF) (the "Company" or "Gemina") is pleased to announce a non-brokered private placement offering (the "Offering") of up to 9,333,333 common shares in the capital of the Company (each, a "Share") at a price of
The net proceeds of the Offering will be used to accelerate the Company's platform development, production expansion, business development and commercialization activities and general working capital and corporate purposes. The securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the date of issuance.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
On Behalf of the Board of Directors
John Davies
Chairman
Gemina Laboratories Ltd.
About Gemina Laboratories Ltd.
Gemina Labs is a biosensor and binding technologies company initially focused on the diagnostics industry. Our technologies include transformative, patented, proprietary chemistries that power next generation testing platforms for a wide range of pathogens and other analytes that affect human health and wellness, driving testing platforms that are fast, affordable and accurate, and easily self-administered. More information about Gemina's technology can be found here https://www.youtube.com/@GeminaLaboratories. Additional information on the Company can be found at www.geminalabs.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this Release.
Forward Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include, without limitation, statements regarding the anticipated proceeds to be raised under the Offering and the use of any proceeds raised under the Offering. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. These risks and uncertainties include delays in obtaining required regulatory approvals for the Offering; market uncertainty; and the inability of the Company to raise the anticipated proceeds under the Offering or use any proceeds raised under the Offering as anticipated. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. As such, any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
For more information regarding the Company, please contact:
Brian Firth
Gemina Laboratories Ltd
Email: investor@geminalabs.com
SOURCE: Gemina Laboratories Ltd.
View the original press release on accesswire.com
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