Lexaria Bioscience (OTCQB:LXRP) completes a private placement of 4.1M units of the Company at a price of US$0.42 per unit for gross proceeds of $1.7M. Each Unit consists of one common share and one-half of a warrant to purchase one share of common at $0.60.
The net proceeds will fund R&D activities, working capital and general corporate purposes.
Yesterday's close was $0.44.
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