On January 26, 2024 Sirona Biochem Corp. (TSX-V:SBM) (FSE: ZSB) (OTC: SRBCF) (the "Company") reported a non-brokered private placement of up to 10,000,000 units of the Company at a price of $0.10 CAD per Unit (a "Unit") for gross proceeds of up to CAD$1,000,000 (the "Private Placement") (Press release, Sirona Biochem, JAN 26, 2024, View Source;utm_medium=rss&utm_campaign=sirona-biochem-initiates-private-placement [SID1234639558]). Each Unit consists of one common share and one transferable share purchase warrant, each whole warrant exercisable into one additional common share of the Company for a period of 2 years from the date of issue at a price of $0.15 per Share in year one and $0.25 per Share in year two.

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!

In connection with the Private Placement, the Company may pay finders’ fees of up to 10% in cash and 10% in Finder Warrants (the "Finder’s Warrants"). Each Finder Warrant will entitle the holder to purchase one Share of the Company at any time for two years from the closing date of the Private Placement at a price of CAD$0.15 per Share in year one and CAD$0.25 per Share in year two.
The company intends to use the proceeds of the private placement for general working capital purposes.
The completion of the Private Placement is subject to customary conditions, including acceptance from the Toronto Stock Exchange Venture ("TSXV"). All securities issued will be subject to a hold period in accordance with TSXV and/or other regulatory requirements.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy. 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, or for the benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
The Company looks forward to the successful completion of this Private Placement, further fortifying its financial position to drive strategic initiatives and maintain its position at the forefront of innovative skincare solutions.