On July 14, 2021 BioCure Technology Inc. (CSE: CURE) ("BioCure" or the "Company") reported that it has successfully closed a non-brokered private placement (the "Private Placement") consisting of 6,706,525 Units at a price of $0.16 cents per Unit for gross proceeds of $1,073,044.00 (Press release, Biocure Technology, JUL 14, 2021, View Source [SID1234628743]).

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Each Unit is comprised of one common share (the "Shares") and one share purchase warrant (the "Warrants") of the Company, where each whole Warrant entitles the holder to purchase an additional share for a period of two years from closing, at a price of $0.21 per Warrant share (the "Warrant Shares").

The Company has also agreed to pay a finder’s fee of 8% in cash ("Finders Cash") and 8% in warrants ("Finder Warrants") for the proceeds raised by the finders ("Finders") in connection with the private placement. The Finder Warrants are on the same terms as the Purchaser Warrants. All finder fees are subject to CSE ("Exchange") approval.

The net proceeds from the non-brokered private placement are intended to be used for general working capital, research and development.