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

5. Personas Social Inc. (TSX-V: PRSN)

  • Gross Proceeds: $650,000
  • Sector: Video conferencing
  • Units issued: 10.83 million
  • Type: Special units
  • Price: $0.06
  • Warrants: Half; $0.08; Two years
  • Agents: Non-brokered
  • Use of Proceeds: Product development

Company breakdown:

  • Company that develops live video conference technology, live streaming, and social media products
  • Earned $102,982 in 2022

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