Vancouver, British Columbia – (November 21st, 2019) – BioMark Diagnostics Inc. (“BioMark”) (CSE: BUX) (FSE: 20B) (OTCMKTS: BMKDF) is pleased to announce a non-brokered Private Placement (the “Offering”). The Offering will be for up to 1,666,667 Units at a price of $0.30 to raise gross proceeds of up to $500,000.
Each Unit is composed of one common share (a “Share”) of the Company and one-half Share purchase warrant (a “Warrant”). Each whole Warrant shall entitle the holder to acquire one Share at a price of $0.45 per Share for a period of two years after the date of issuance. Finder’s fees may be payable. The private placement and finder’s fees are subject to regulatory approval.
The proceeds of the Offering will be used for new product development activities, sourcing clinical samples, new patent submission costs and general working capital. The securities in the private placement will be subject to a holding period of four months from the closing date of the private placement. Certain Insiders, Directors and Officers may subscribe for a portion of this placement. Closing of the private placement is subject to the Canadian Securities Exchange approval.