In case anybody missed the latest news release, here it is:
Terms of private placement revised
IGT Pharma Inc IGT
Shares issued 6,581,332 Apr 29 close $1.09
Tue 29 Apr 97 News Release
Mr Bruce Schmidt reports
Further to news in Stockwatch March 14 1997, the terms of the private
placement have been revised to include a second year warrant at $1.45.
Of the total 1,614,583 units offered, 520,833 are non-brokered and
1,041,667 are brokered through Canaccord Capital Corp and Union Securities
(International) Ltd. The remaining of 52,083 units will be subscribed for
by IGT's president, Bruce Schmidt.
Each unit at $0.96 includes one share and a half warrant. Each whole
warrant is exercisable for the purchase of one share of IGT Pharma Inc at
any time until two years from the closing date at $1.20 in the first year
and $1.45 in the second year.
Use of proceeds of this financing will allow for initiation of human
clinical trials for the new cancer drug Anhydrovinblastine, a patented
therapy showing strong pre-clinical tumor inhibition in many cancers,
including lung cancer. Other planned projects include commercial scale-up
of a synthetic route to the existing cancer drug, Etoposide, and
commencement of pre-clinical development of another new anti-cancer drug,
IGT 13.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com |
