MetaStat, Inc. (OTCPK:MTST) announced that it has entered into a subscription agreement for a private placement of 100,000 common share at $50 per share for gross proceeds of $5,000,000 on May 26, 2016. The company will also issue 50,000 warrants to purchase common shares of the company at $3 per share for a period of five years. The round will include participation from accredited investors. The company will issue securities pursuant to exemption provided under Regulation D. On the same day, the company issued 4,000 common shares for gross proceeds of $200,000 along with 2,000 warrants in its first tranche. The company received net proceeds of $162,000 in its first tranche after deducting placement agent fees and other offering expenses.