LSL Group Closes a Complementary and Final Private Placement of $145,000.10 to Its Reverse Takeover
March 14 2023 - 7:00AM
LSL PHARMA GROUP INC. (TSXV : LSL) – LSL Pharma Group Inc.
(the “
Corporation” or “
LSL
Group”) is pleased to announce the closing of a
complementary private placement for gross proceeds of $145,000.10
(the “
Private Placement”) by the issuance of
207,143 units at a price of $0.70 each (each a
“
Unit”). Each Unit consists of one (1) Class A
share of the share capital of the Corporation (each a
“
Common Share”) and one half (1/2) warrant (each a
“
Warrant”). Each whole Warrant entitles the holder
to acquire one (1) additional Common Share at a price of $1.00
until August 22, 2024.
This Private Placement finalizes the transaction
with Îledor and the reverse takeover announced on February 27,
2023. The Corporation will use the proceeds of the Private
Placement for business development purposes and to increase the
Corporation’s working capital.
A total of $5,600 in cash and 8,000 broker
warrants (each a “Broker Warrant”) were paid as
commissions, where each such Broker Warrant entitles its holder to
acquire one Unit at a price of $0.70 each until August 22, 2024.
All Units, Common Shares, Warrants, and Broker Warrants issued are
subject to a four-month and one-day resale restriction period from
the closing date of the Private Placement.
The Private placement is subject to the TSX
Venture Exchange final approval and any other applicable regulatory
approvals.
About LSL Group
The LSL Group is a Canadian integrated
pharmaceutical company specializing in the development, manufacture
and distribution of high-quality natural health products and
dietary supplements in solid dosage forms as well as high quality
sterile ophthalmic pharmaceutical products.
Neither 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.
For more information, please
contact:François Roberge, President and Chief Executive
Officer Telephone: 514-664-7700
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