PreveCeutical Completes Initial Private Placement

PreveCeutical Medical (TSE:PREV) has released an update.

PreveCeutical Medical Inc. has completed the first tranche of its non-brokered private placement, raising $115,000 by selling 4.6 million units at $0.025 each, with units comprising a common share and half a warrant. The funds raised are earmarked for working capital purposes, particularly to cover audit-related expenses. The private placement securities are subject to a statutory hold period and are not registered under the U.S. Securities Act, rendering them unavailable for sale in the U.S. without registration or an exemption.

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