Algernon Pharmaceuticals Announces Increase to Private Placement
VANCOUVER, British Columbia, July 31, 2024 (GLOBE NEWSWIRE) — Algernon Pharmaceuticals Inc. (CSE: AGN) (FRANKFURT: AGW0) (OTCQB:AGNPF) (the “Company” or “Algernon”) a Canadian clinical stage pharmaceutical development company announces an increase to its non-brokered private placement, previously announced on July 11, 2024, from gross proceeds of $250,000 to $408,000 (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 1, 2024.