Nanotechnology Now





Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Stellar Biotechnologies Closes Cdn $3.7m Private Placement

Abstract:
Stellar Biotechnologies, Inc. (the "Company" or "Stellar") (TSX-V: KLH) (PINKSHEETS: SBOTF) is pleased to announce that it has closed the non-brokered private placement announced on October 25, 2010, as amended November 3, 2010, by the issuance of 6,213,000 units at a price of $0.60 per unit to raise gross proceeds of $3,727,800. Management elected to close on this amount despite receiving expressions of interest for well in excess of the $3,960,000 previously announced because Stellar's corporate current financial requirements were fulfilled at the $3.7278M level.

Stellar Biotechnologies Closes Cdn $3.7m Private Placement

Port Hueneme, CA | Posted on November 16th, 2010

Each unit consists of one common share in the capital of the Company and one transferable share purchase warrant. Each warrant entitles the holder to purchase one additional common share in the capital of the Company on or before November 14, 2012, at an exercise price of $0.90 per share if exercised on or before November 14, 2011 and $1.15 per share if exercised from November 15, 2011 to November 14, 2012.

In connection with the private placement, Global Market Development LLC ("Global") received a cash finder's fee of $207,360, representing 9% of the gross proceeds raised in the private placement by Global, as well as a non-transferable option (the "Global Option") to acquire 345,600 units of the Company (the "Global Units") equivalent to 9% of the units sold by Global in the private placement. The Global Option is exercisable into Global Units on or before November 14, 2012 at an exercise price of $0.60 per Global Unit. Each Global Unit consists of one common share and one non-transferable share purchase warrant, each warrant entitling Global to purchase one common share in the capital of the Company on or before November 14, 2012, at an exercise price of $0.90 per share if exercised on or before November 14, 2011 and $1.15 per share if exercised from November 15, 2011 to November 14, 2012.

All securities issued by the Company pursuant to the private placement are subject to a hold period of four months and one day and cannot be resold until March 16, 2011.

Proceeds of the private placement will be used for corporate purposes, including the completion of the development and regulatory process for IMG KLH and the Stellar KLH/IMG-based primary immune diagnostic product as envisioned in the Company's Filing Statement dated December 22, 2009, as well as the commercial launch of the new, KLH-based product line. Given current plans, Stellar expects this funding to fulfill the Company's capital needs into 2012.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the Company's securities set out herein in the United States, or to, or for the benefit or account of, a U.S. person or person in the United States. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

####

About Stellar Biotechnologies
Stellar Biotechnologies, Inc. (TSX-V: KLH) (PINKSHEETS: SBOTF) is a world leader in sustainable manufacturing of pharmaceutical grade immune carrier proteins (ICP), particularly with regard to the present most important pharmaceutical protein in this class, KLH (Keyhole Limpet Hemocyanin). This ancient evolutionary protein has a highly complex structure that makes it ideal for use in human and animal vaccines and diagnostic products. With partners and customers, its flagship Stellar KLH products are in the clinic, and on the way to being established as the only sustainable, long-term pharmaceutical source.

For more information, please click here

Contacts:
Darrell Brookstein
Executive VP

Copyright © Stellar Biotechnologies

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

A 'movie' of ultrafast rotating molecules at a hundred billion per second: A quantum wave-like nature was successfully observed in rotating nitrogen molecules July 4th, 2015

New Biosensor Produced in Iran to Detect Effective Drugs in Cancer Treatment July 4th, 2015

Clues to inner atomic life from subtle light-emission shifts: Hyperfine structure of light absorption by short-lived cadmium atom isotopes reveals characteristics of the nucleus that matter for high precision detection methods July 3rd, 2015

Pioneering Southampton scientist awarded prestigious physics medal July 3rd, 2015

Investments/IPO's/Splits

Harris & Harris Group Portfolio Company, AgBiome, Announces Partnership to Accelerate the Discovery of Next Generation Insect-Resistant Crops July 1st, 2015

Nanometrics to Participate in 7th Annual CEO Investor Summit 2015: Investor Event Held Concurrently With SEMICON West in San Francisco June 25th, 2015

Harris & Harris Group Portfolio Company D-Wave Systems Announces 1,000 Qubit Processor and is Discussed in the Economist June 23rd, 2015

Nanowire LED Innovator Aledia Completes $31 Million Series B Financing June 18th, 2015

Announcements

A 'movie' of ultrafast rotating molecules at a hundred billion per second: A quantum wave-like nature was successfully observed in rotating nitrogen molecules July 4th, 2015

New Biosensor Produced in Iran to Detect Effective Drugs in Cancer Treatment July 4th, 2015

Clues to inner atomic life from subtle light-emission shifts: Hyperfine structure of light absorption by short-lived cadmium atom isotopes reveals characteristics of the nucleus that matter for high precision detection methods July 3rd, 2015

Pioneering Southampton scientist awarded prestigious physics medal July 3rd, 2015

Financial Reports

Nanometrics to Announce Second Quarter Financial Results on July 23, 2015 July 2nd, 2015

Aspen Aerogels to Webcast 2015 Annual Meeting of Stockholders June 11th, 2015

Industrial Nanotech, Inc. Provides Update June 8th, 2015

PEN Inc. Announces First Quarter Financial Results: Investor Webcast and Business Update Set for May 21, 1 pm EDT May 13th, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project