Toronto, Ontario – (Newsfile Corp. – June 11, 2021) – Aion Therapeutic Inc. (CSE: AION) (“Therapeutic aion“or the”Company“) is pleased to announce the closing of a non-brokered private placement through the issuance of 16,994,475 units (each, a”Unit“) at a price of $ 0.0875 per Unit for gross proceeds of $ 1,487,016.56 (the”OfferThe proceeds of the Offer will be used by the Company for general working capital purposes.
Each unit is made up of one ordinary share (each, a “Ordinary share“) of the Company and a half common share purchase warrant (each entire warrant, a”To guarantee“). Each warrant confers on its holder the right to acquire one common share for a period of twenty-four months from the closing of the placement (the”Expiration date“) at a price of $ 0.15 per common share. In addition, the Company has the right to bring forward the expiry date to thirty days following the written notice to the holders, if during the term of the warrants, the shares Common shares close at or above $ 0.20 per common share Common share on each trading day for a period of ten consecutive trading days on the Canadian Stock Exchange.
In connection with the Offer, the Company paid certain eligible persons (the “Researchers“) aggregate cash commissions of $ 20,874.24 and issued 238,562 broker’s warrants (each, a”Broker mandate“). Each broker’s warrant entitles its holder to acquire one common share at an exercise price of $ 0.15 per common share for a period of twenty-four months from the closing of the offering and under subject to the aforementioned acceleration provisions.
All securities issued in connection with the placement are subject to a legal hold period of four months plus one day from the date of issue in accordance with applicable securities legislation.
The Offer constituted a “related party transaction” as defined in Multilateral Instrument 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101“), as certain insiders of the Company have acquired a total of 10,264,286 Units. The Company relies on the exemptions from the minority shareholder assessment and approval requirements of NI 61-101 contained in Sections 5.5 ( a) and 5.7 (1) (a) of NI 61-101, given that the fair market value of the investment participation by insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with Regulation 61-101. The Company has not filed a change report file with respect to the related party transaction at least 21 days before the closing of the Offer, which the Company considers reasonable in order to complete the Offer. The offer has been approved by all of the independent directors of the company.
This press release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Law“) or any state securities law and may not be offered or sold in the United States or to US Persons unless it is registered under the US Securities Act and securities laws applicable state securities or an exemption from such registration is available.
About Aion Therapeutics Inc.
Aion Therapeutic Inc., through its wholly owned subsidiary, AI Pharmaceuticals Jamaica Limited, engages in advanced research and development, processing, data mining, and artificial intelligence (machine learning) techniques. , focused on the development of combinatorial pharmaceuticals, nutraceuticals and cosmeceuticals using compounds of cannabis (cannabinoids), psychedelic mushrooms (psilocybin), mushrooms (edible mushroom), natural psychedelic formulations (Ayahuasca) and other medicinal plants in a legal environment for this type of discovery. In addition, Aion Therapeutic creates a strong international portfolio of intellectual property linked to its discoveries.
For more information, please contact:
KCSA strategic communication
KCSA strategic communication
Aion Therapeutics Inc.
Executive Vice President and Chief Executive Officer
DISCLAIMER AND NOTICE TO READER
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “may”, “may”, “planned”, “estimated” And similar expressions and statements regarding matters that are not fact are intended to identify forward-looking information and are based on the Company’s current belief or assumption as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information relating to the activities of the Company. Various assumptions or factors are generally applied in drawing conclusions or making the forecasts or projections set forth in forward-looking information. These assumptions and factors are based on information currently available to the parties. Significant factors and assumptions include regulatory and other third party approvals; licenses and other risks. The forward-looking information contained in this press release is made as of the date hereof and the parties are under no obligation to update or revise the forward-looking information, whether as a result of new information, future events or otherwise, except if required by securities laws. Due to the risks, uncertainties and assumptions contained in this document, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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