Grey Matters Health (CSE:GREY, OTCQB:AGNPD, FRA:AGW0) said it has received its Radioactive Materials License from the State of Florida for its flagship NovaScan Neuroimaging Clinics location in Davie, Florida, scheduled to open by September 30.
"This was the last major regulatory step required for the clinic as we continue to advance through our final preparations for opening," said Christopher Moreau, CEO of Grey Matters Health (CSE:GREY, OTCQB:AGNPD).
"With our expanded focus and investment in dedicated brain PET neuroimaging, we are very close to the start of a new era for the Company, our shareholders, our strategic partners, and our referring network and their patients."
The Canadian healthcare company separately said it will raise gross proceeds of up to C$800,000 through a non-brokered private placement combining equity units and convertible debentures, with proceeds earmarked for its Alzheimer's disease program and the opening of US brain-specific neuroimaging clinics.
The company plans to raise C$500,000 through the sale of equity units priced at $0.40 each, with each unit consisting of one Class A common share and one warrant. The warrants will be exercisable at $0.60 per share for 36 months from issuance.
Grey Matters also plans to raise C$300,000 through the sale of up to 300 units of unsecured convertible debentures. Each debenture unit will consist of a $1,000 principal debenture and 2,198 warrants. The debentures will carry 10% annual interest, paid semi-annually, and mature 24 months from closing or conversion. Holders can convert outstanding principal and interest into common shares at a fixed price of $0.455 per share before maturity.
The accompanying warrants will be exercisable at $0.55 per share for 36 months from issuance.
The company expects to close the offering by August 28.
--Updated with license news--