Algernon Pharmaceuticals Announces Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Aug. 07, 2024 (GLOBE NEWSWIRE) — Algernon Pharmaceuticals Inc. (CSE: AGN) (FRANKFURT: AGW0) (OTCQB:AGNPF) (the “Company” or “Algernon”) a Canadian clinical stage pharmaceutical development company announces a non-brokered private placement for gross proceeds of $150,000 (the “Offering”) of units (the “Units”) at an issue price of $0.12 per Unit. Each Unit will consist of one Class A common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one Common Share (a “Warrant Share”) at an exercise price of $0.24 per Warrant Share for a period of 2 years from the date of issuance (the “Expiry Date”), subject to acceleration of the Expiry Date as described below. The Offering is expected to close on August 15, 2024.