So I guess this is good because this PP is subject to ALRX being listed on TSX, but bad because it is offered at $0.10/unit. Any thoughts?
MARKHAM, ON, March 25 /PRNewswire-FirstCall/ - AlphaRx (OTC BB:ALRX - News), is pleased to announce a proposed non-brokered private placement in conjunction with its proposed TSX Venture Exchange listing application, subject to TSX Venture Exchange approval, of 16,000,000 units at a price of US$0.10 per unit, for gross proceeds of US$1,600,000.
Each unit consists of one common share plus one-half common share purchase warrant. Each whole common share purchase warrant will enable the holder to purchase one common share at a price of $0.125 for a period of 24 months from closing. Closing of the private placement is subject to the Company's common shares being listed and posted for trading on the TSX Venture Exchange and the Company becomes a "qualifying issuer" as such term is defined in Multi-Lateral Instrument 45-102 of the Canadian Securities Administrators ("MI 45-102") resulting in the securities issued in the private placement qualifying for a four month hold period pursuant to MI 45-102.
