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Gold/Mining/Energy : Response Biomedical (V.RBM)
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From: Starowl12/20/2004 9:39:12 AM
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More dilution. Anyone else concerned about this constant dilution of the shares to gain funds for development? At some point, the company is going to have to stand on its own feet.

Response Biomedical Signs Agency Agreement, Amends Proposed Financing
Monday December 20, 9:25 am ET

VANCOUVER, Dec. 20 /CNW/ - Response Biomedical Corp. (TSX-V: RBM - News), today announced it has signed an agency agreement with Haywood Securities Inc. relating to the proposed best efforts private placement announced November 15, 2004. Based on the level of interest received to date, the Company has increased the upper limit of the financing from $1.5 to $3.0 million. Up to 4,000,000 Units are to be placed at a price $0.75 per Unit, each Unit consisting of one common share and two non-transferable one-half of one common share purchase warrants.
The first half-warrant has a one year term from the closing date of the private placement during which each whole warrant shall entitle the holder thereof to purchase one common share of the Company at a price of $1.00 per share. The second half-warrant has a two year term, during which each whole warrant shall entitle the holder thereof to purchase one common share of the Company at a price of $1.25 per share during the first year of the term or at a price of $1.50 per share during the second year of the term of the warrant.
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