BetterLife Pharma Inc (CSE:BETR) has closed a bought-deal, over-allotted public offering that raised gross proceeds of $6,325,000.
The company said the net proceeds from the offering will be used for working capital and general corporate purposes.
Under the financing scheme, the company issued 15,812,500 units at $0.40 per each.
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Each unit will consist of one common share and one purchase warrant. Each warrant entitles the holder to purchase one share at $0.50 each at any time up to 36 months from closing.
The offering was led by Research Capital Corporation as the sole underwriter and sole bookrunner.
BetterLife, based in Vancouver, British Columbia, is a life sciences company engaged in the development of next-generation psychedelic products for the treatment of mental disorders.
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