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To: downandout who wrote (1670)8/12/2016 10:20:30 AM
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Briacell arranges $1.5-million private placement

2016-08-12 08:05 MT - News Release

Ms. Farrah Dean reports

BRIACELL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Briacell Therapeutics Corp. intends to complete a non-brokered private placement of units of the company at a price of 20 cents per unit for aggregate gross proceeds of up to $1.5-million. Under the offering, each unit shall consist of one common share in the capital of the company and one common share purchase warrant. The warrants will be valid for 36 months following the date of closing of the offering, and each warrant will be exercisable for one common share at an exercise price of 30 cents if exercised during the initial 12 months and 35 cents if exercised during the subsequent 24 months following the date of closing of the offering.

The company intends to use the proceeds from the offering toward the company's phase I/IIa clinical trial, for advancing the Briacell research and development program and companion diagnostic platform known as BriaDx, and for general corporate purposes.

The offering is expected to close on or about Aug. 19, 2016, and is subject to the approval of the TSX Venture Exchange and other customary closing conditions.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.
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