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Callitas Health successfully closes capital raise

The Cincinnati-based health and wellness company will use the proceeds as general working capital

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Callitas' strategy focuses on getting quick revenues from mass-appeal over-the-counter products and a more long-term blockbuster pipeline

Callitas Health Inc (CSE:LILY) (OTCQB:MPHMF) announced Thursday that it completed a non-brokered private placement to raise US$289,225.  

The Cincinnati-based health and wellness company’s stock rocketed nearly 35% on the OTC Markets Thursday to $0.093.

The company issued 3,856,333 units at a price of $0.075 per unit. Each unit consists of one share and one two-year warrant to purchase an additional share at $0.10.

The proceeds from the offering will be used for general working capital, the company said in a statement.

Callitas has a nimble strategy focused on getting quick revenues from mass-appeal over-the-counter products and a more long-term blockbuster pipeline.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter@UttaraProactive 

Quick facts: Callitas Health Inc.

Price: 0.11 CAD

CSE:LILY
Market: CSE
Market Cap: $3.62 m
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