On October 14, 2020 BioCure Technology Inc. (CSE: CURE) ("BioCure" or the "Company") reported that it will close a non-brokered private placement (the "Private Placement" on October 15th, 2020 consisting of 1,786,725 Units at a price of $0.14 cents per Unit for gross proceeds of $250,142 (Press release, Biocure Technology, OCT 14, 2020, View Source [SID1234628751]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

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 also agreed to pay a finder’s fee of $3,360 ("Finders Cash") and 24,000 finder warrants ("Finder Warrants") for the proceeds raised by the finders ("Finders") in connection with the private placement. The Finder Warrants are exercisable for a period of one year from closing at a price of $0.21 per share.

The net proceeds from the non-brokered private placement are intended to be used for general working capital and research and development.
All securities issuance in the Private Placement will be subject to a hold period expiring on February 15, 2021.