Nanotechnology Now

Our NanoNews Digest Sponsors





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

Using ultrathin sheets to discover new class of wrapped shapes: UMass Amherst materials researchers describe a new regime of wrapped shapes August 31st, 2015

New material science research may advance tech tools August 31st, 2015

Efficiency of Nanodrug Containing Antibiotics in Treatment of Infectious Diseases Evaluated August 31st, 2015

Researchers use DNA 'clews' to shuttle CRISPR-Cas9 gene-editing tool into cells August 30th, 2015

Investments/IPO's/Splits

Nanometrics to Participate in the Citi 2015 Global Technology Conference August 26th, 2015

Nanostart AG: First-half figures 2015 published and new supervisory board elected : Publication of first-half figures 2015 - Shareholders' meeting elected new supervisory board August 22nd, 2015

Harris & Harris Group Portfolio Company, AgBiome, Secures $34.5 Million Series B Financing Led By Bill and Melinda Gates Foundation August 20th, 2015

Harris & Harris Group Reports Financial Statements as of June 30, 2015, and Announces a Stock Repurchase Program August 10th, 2015

Announcements

Using ultrathin sheets to discover new class of wrapped shapes: UMass Amherst materials researchers describe a new regime of wrapped shapes August 31st, 2015

An engineered surface unsticks sticky water droplets August 31st, 2015

New material science research may advance tech tools August 31st, 2015

Efficiency of Nanodrug Containing Antibiotics in Treatment of Infectious Diseases Evaluated August 31st, 2015

Financial Reports

Small but heading for the big time: Nanobiotix half year results for the six months ended 30 June 2015, in line with expectations: Major clinical achievements and corporate developments August 28th, 2015

Nanostart AG: First-half figures 2015 published and new supervisory board elected : Publication of first-half figures 2015 - Shareholders' meeting elected new supervisory board August 22nd, 2015

Industrial Nanotech, Inc. CEO Announces PCAOB Audit, Next Generation Of Current Products, New Products, New Website, New Global Outreach Program August 11th, 2015

Harris & Harris Group Reports Financial Statements as of June 30, 2015, and Announces a Stock Repurchase Program August 10th, 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







Car Brands
Buy website traffic