NurExone Biologic Inc. announced a non-brokered private placement of a minimum of 2,727,272 units and a maximum of 5,090,909 units at a price of CAD 0.275 per unit for minimum gross proceeds of CAD 750,000 and maximum gross proceeds of CAD 1,400,000 on August 9, 2023. Each unit will consist of one common share, one-half of one class A common share purchase warrant and one-half of one class B common share warrant. Each class A warrant will entitle the holder thereof to purchase one common share at a price of CAD 0.34 per common share for a period of 24 months from the closing of the transaction.

Each class B warrant will entitle the holder thereof to purchase one common share at a price of CAD 0.48 per common share for a period of 36 months from the closing of the transaction. The transaction is subject to the approval of the TSXV, and all securities issued thereunder will be subject to a statutory hold period of four months and one day from the closing of the transaction. The company may pay finder?s fees in connection with the transaction, all in accordance with the policies of the TSXV and applicable securities laws.