Friday's announced financings: May 19

May 23, 2023 10:09 AM PST

Here’s your roundup of Friday's announced equity financings, courtesy of PrivatePlacements.com: the only database that tracks every financing, every day.

1. BZAM Ltd. (CSE: BZAM)

Gross Proceeds: $5 million
Sector: Cannabis
Units issued: 22.22 million
Type: Special units
Price: $0.225
Warrants: Full; $0.40; Three years
Agents: Non-brokered
Use of Proceeds: Working capital

Company breakdown:

Cannabis company with a focus on branded consumer goods
Financing is with a chairman and the company's largest shareholder

2. Devonian Health Group Inc. (TSX-V: GSD)

Gross Proceeds: $5 million
Sector: Pharmaceuticals
Units issued: 33.33 million
Type: Special units
Price: $0.15
Warrants: Full; $0.20; Two years
Agents: Non-brokered
Use of Proceeds: Clinical studies

Company breakdown:

Pharmaceuticals company that develops botanical drugs from plant materials and algae
Proceeds from the offering will be used for clinical trials for Thykamine, to treat pediatric atopic dermatitis

3. Universal Ibogaine Inc. (TSX-V: IBO)

Gross Proceeds: $2 million
Sector: Addiction treatment
Units issued: 66.67 million
Type: Special units
Price: $0.03
Warrants: Half; $0.06; Two years
Agents: Non-brokered
Use of Proceeds: Clinical trials

Company breakdown:

Company developing drugs using ibogaine to treat opioid addiction
Not a lot of recent news, other than another financing and the resignation of two of its directors

4. Telo Genomics Corp. (TSX-V: TELO)

Gross Proceeds: $2 million
Sector: Biotech
Units issued: 8 million
Type: Special units
Price: $0.25
Warrants: Half; $0.40; Two years
Agents: Non-brokered
Use of Proceeds: Commercialization

Company breakdown:

Biotech company with a platform that uses telomeres for liquid biopsies and "related technologies in oncology and neurological diseases."
Says its financing will be used to fund commercialization of the company's lead product for smoldering multiple myeloma