Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

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

Band Gaps, Made to Order: Engineers create atomically thin superlattice materials with precision September 26th, 2017

Assembly of nanoparticles proceeds like a zipper: Viruses and nanoparticles can be assembled into processable superlattice wires according to scientists from Aalto University Finland September 25th, 2017

Enhancing the sensing capabilities of diamonds with quantum properties: A simple method can give diamonds the special properties needed for quantum applications such as sensing magnetic fields September 24th, 2017

Quantum twisted Loong confirms the physical reality of wavefunctions September 23rd, 2017

Investments/IPO's/Splits

Arrowhead Hosts Investor & Analyst R&D Day to Introduce TRiM(TM) Platform and Lead RNAi-based Drug Candidates September 14th, 2017

Nanometrics Announces Upcoming Investor Events August 3rd, 2017

Nanometrics to Participate in the 9th Annual CEO Investor Summit 2017: Accredited investor and publishing research analyst event held concurrently with SEMICON West and Intersolar 2017 in San Francisco June 27th, 2017

180 Degree Capital Corp. Announces the Start of Kevin Rendino as Chairman and Chief Executive Officer and Completion of its Transition to a Registered Closed-End Fund March 31st, 2017

Announcements

Band Gaps, Made to Order: Engineers create atomically thin superlattice materials with precision September 26th, 2017

Assembly of nanoparticles proceeds like a zipper: Viruses and nanoparticles can be assembled into processable superlattice wires according to scientists from Aalto University Finland September 25th, 2017

Enhancing the sensing capabilities of diamonds with quantum properties: A simple method can give diamonds the special properties needed for quantum applications such as sensing magnetic fields September 24th, 2017

Quantum twisted Loong confirms the physical reality of wavefunctions September 23rd, 2017

Financial Reports

Arrowhead Pharmaceuticals to Webcast Fiscal 2017 Third Quarter Results July 27th, 2017

Nanometrics to Announce Second Quarter Financial Results on August 1, 2017 July 14th, 2017

Arrowhead Pharmaceuticals to Webcast Fiscal 2017 Second Quarter Results April 27th, 2017

Nanometrics to Announce First Quarter Financial Results on May 2, 2017 April 11th, 2017

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