Miraculins Announces First Closing of Private Placement Offering
11 April 2014 - 12:30PM
Marketwired
Miraculins Announces First Closing of Private Placement Offering
WINNIPEG, MANITOBA--(Marketwired - Apr 11, 2014) - Miraculins
Inc. (TSX-VENTURE:MOM) (the "Company"), a medical diagnostic
company focused on acquiring, developing and commercializing
diagnostic tests and risk assessment technologies for unmet
clinical needs, is pleased to announce the first closing of a
private placement offering (the "Offering") with aggregate gross
proceeds to the Company of $116,000 from the sale of 464,000 units
("Units") at a price of $0.25 per Unit. Each Unit is comprised of
one common share of the Company (a "Share") and one Share purchase
warrant (a "Warrant").
Each Warrant
entitles the holder to purchase one Share at a price of $0.35 per
Share for a period of 12 months from the date the Warrant is
issued. The Warrants are callable, at the option of the Company, at
any time after four months following their issuance, in the event
that the closing price of the Shares is at or above $0.50 per Share
for any five out of 10 consecutive trading days. The Shares and
Warrants will be restricted from transfer for a period of four
months and a day from the date hereof in accordance with applicable
securities laws. Insiders of the Company participated by purchasing
40,000 Units of the Offering. The net proceeds of the Offering will
be used for general operating, ongoing product development,
inventory and sales and marketing related costs.
The Company
anticipates that a second closing will take place in the near
term.
The closing of the
Offering is subject to the final approval of the TSX Venture
Exchange.
About Miraculins
Inc.
Miraculins is a
medical diagnostic company focused on acquiring, developing and
commercializing non-invasive technologies for unmet clinical needs.
A significant number of promising diagnostic opportunities remain
un-commercialized because of the sizable gap between the discovery
stage, when research institutions are typically involved, and the
commercialization stage, when the larger commercial enterprises
become interested. Miraculins has direct experience in bridging
this gap. The Company's Scout DS® system is the first non- invasive
diabetes testing system designed to provide a highly sensitive and
convenient method for measuring diabetes related biomarkers in the
skin, the accumulation of which are accelerated by abnormal blood
sugar levels and oxidative stress. Unlike current testing methods,
a Scout DS® test requires no blood draw, no fasting, and no waiting
for a lab result. The product has been used and validated in
thousands of patients around the world. The Company's PreVu® POC
Test is a revolutionary new coronary artery disease risk assessment
technology that measures cholesterol levels in a patient's skin
non-invasively, painlessly and without the need for fasting. For
more information visit www.miraculins.com
Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Caution
Regarding Forward-Looking Information
Certain
statements contained in this press release constitute
forward-looking information within the meaning of applicable
Canadian provincial securities legislation (collectively,
"forward-looking statements"). These forward-looking statements
include statements regarding the use of proceeds of the Offering
and the completion of a second closing of the private placement
offering. These forward-looking statements relate to, among other
things, our objectives, goals, targets, strategies, intentions,
plans, beliefs, estimates and outlook, including, without
limitation, our anticipated future operating results, and can, in
some cases, be identified by the use of words such as "believe,"
"anticipate," "expect," "intend," "plan," "will," "may" and other
similar expressions. In addition, any statements that refer to
expectations, projections or other characterizations of future
events or circumstances are forward-looking statements.
These statements
reflect management's current beliefs and are based on information
currently available to management. Certain material factors or
assumptions are applied in making forward- looking statements, and
actual results may differ materially from those expressed or
implied in such statements. Important factors that could cause
actual results to differ materially from these expectations
include, among other things: Miraculins' early stage of
development, lack of product revenues and history of operating
losses, uncertainties related to clinical trials and product
development, rapid technological change, uncertainties related to
forecasts, competition, potential product liability, additional
financing requirements and access to capital, unproven markets,
supply of raw materials, income tax matters, management of growth,
partnerships for development and commercialization of technology,
effects of insurers' willingness to pay for products, system
failures, dependence on key personnel, foreign currency risk, risks
related to regulatory matters and risks related to intellectual
property and other risks detailed from time to time in Miraculins'
filings with Canadian securities regulatory authorities, as well as
Miraculins' ability to anticipate and manage the risks associated
with the foregoing. Additional information about these factors and
about the material factors or assumptions underlying such forward-
looking statements may be found in the body of this news release.
Miraculins cautions that the foregoing list of important factors
that may affect future results is not exhaustive. When relying on
Miraculins' forward-looking statements to make decisions with
respect to Miraculins investors and others should carefully
consider the foregoing factors and other uncertainties and
potential events.
These risks and
uncertainties should be considered carefully and prospective
investors should not place undue reliance on the forward-looking
statements. Although the forward-looking statements contained in
this press release are based upon what management believes to be
reasonable assumptions, Miraculins cannot provide assurance that
actual results will be consistent with these forward-looking
statements. Miraculins undertakes no obligation to update or revise
any forward-looking statement.
Scout DS®
and PreVu® are registered trademarks of
Miraculins Inc. All Rights Reserved. 2014.
Miraculins Inc.Christopher J. MoreauPresident &
CEO204-477-7599204-453-1546info@miraculins.comwww.miraculins.com
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