IMMUNOVACCINE INC. ("IMV")
BULLETIN TYPE: Prospectus-Unit Offering
BULLETIN DATE: September 17, 2014
TSX Venture Tier 1 Company
The Company's Base Shelf Prospectus dated August 27, 2012 was filed with and accepted by TSX Venture Exchange, and filed with and receipted by the Alberta, Manitoba, Saskatchewan, British Columbia, Ontario and Newfoundland and Labrador Securities Commissions pursuant to the provisions of the Alberta, Manitoba, Saskatchewan, British Columbia, Ontario and Newfoundland and Labrador Securities Act. TSX Venture Exchange has also accepted the filing of the Company's first Prospectus Supplement (dated August 27, 2014).
Underwriters: Mackie Research Capital Corporation, Maxim Group LLC and Cormark Securities Inc.
Offering: The offering consists in 9,153,300 units (the "Units") at the price of $0.95 per Unit. Each Unit consist one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at the exercise price of $1.24 per share during a period of 18 months following the closing date (the "Warrant").
Offering Price: $0.95 per Unit
Warrant Exercise Price: $1.24 per Share during a period of 18 months
Underwriters Fee: 6% of the gross proceeds of the Offering in cash and Underwriters compensation options (the "Compensation Options") to purchase a number of common shares representing 6% of the total number of common shares sold under the offering. The Compensation Options will be exercisable at a price of $0.95 per Share for a period of 18 months from the closing of the offering.
Over-Allotment Option: The Company granted to the Underwriters an option exercisable for a period of 30 days following the closing date, to purchase up to (i) an additional 1,372,995 Units (the "Over-Allotment Units") at a price of $0.95 per Unit, each Over-Allotment Unit being comprised of one Share and one-half of one Warrant (the "Over-Allotment Warrants"), (ii) 686,497 additional Over-Allotment Warrants, at a price of $0.062 per Over-Allotment Warrant, or (iii) any combination of Over-Allotment Units and Over-Allotment Warrants.
The Company has confirmed the closing of the public offering by means of news release dated September 4, 2014. The aggregate gross proceeds received by the Company for the Offering was $9,514,543.75 (10,002,795 Units at $0.95 per Unit and 191,750 Over-Allotment Warrants including the exercise of the Over-Allotment Option).
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