Here's your roundup of yesterday's announced financings, courtesy of PrivatePlacements.com, the only platform that posts every Canadian financing, every day.
1. Defence Therapeutics Inc. (CSE: DTC)
- Gross Proceeds: $2.7 million
- Sector: Biotech
- Units issued: 1.5 million
- Type: Special units
- Price: $1.86
- Warrants: Full; $2.25; Two years
- Agents: Non-brokered
- Use of Proceeds: Preclinical/clinical programs
Company breakdown:
Defence Therapeutics is working on developing new vaccines and "antibody-drug conjugate" products using its proprietary Accum Technology. Accum is a drug delivery method that the company says has applications in oncology, vaccine, and nanotechnologies. The platform is designed to deliver drugs to the infected parts of cells only, aiming to deliver more of the intended drugs to the intended sites.
Defence recently announced that it has been approved by the FDA to proceed with its AccuTOX phase 1 clinical trial, which resulted in impaired tumor growth in 70% of animals in a preclinical trial.
2. Gold Basin Resources Corp. (CSE: GXX)
- Gross Proceeds: $1.5 million
- Sector: Precious metals
- Units issued: 15 million
- Type: Special units
- Price: $0.10
- Warrants: Half; $0.15; 12 years
- Agents: Non-brokered
- Use of Proceeds: Ongoing exploration
Company breakdown:
Gold Basin is a gold junior exploring its Gold Basin project in Mohave county, Arizona. The project is a 1.5 hour drive from Las Vegas, and adjacent to power infrastructure.
The last drill results from the project included 53 metres of 0.41 grams of gold per tonne (g/t Au). Prior to that, the company drilled 69.08 metres of 1.03 g/t Au. The company is working toward a maiden resource estimate for the project.
