Medicus Pharma (TSX-V:MDCX) announced on Friday the completion of its previously announced non-brokered private placement, raising nearly $5.85 million.
The company issued just over 2.9 million shares at $2 per share.
The placement, which incurred $375,000 in finders' fees, closed into escrow on June 28, 2024, and funds were released on July 5, 2024.
Toronto-based Medicus plans to utilize the net proceeds from this equity offering to support its ongoing research and development programs and to bolster working capital.
Medicus is focused on advancing innovative pharmaceutical solutions and expanding its pipeline of potential treatments.