Medicago to begin trading on TSX tomorrow

Medicago (TSX-V:MDG) has received final approval to graduate to the TSX from the TSX Venture Exchange at the start of trading tomorrow, using the same stock symbol.

The company also entered into standby equity distribution agreement to sell up to $10 million of new common shares in tranches to YA Global Master SPV, a fund managed by Yorkville Advisors.

“We currently have the resources in place to reach our clinical milestones,” CEO Andy Sheldon said in a statement. “However, the addition of this tool provides us with a flexible, low-cost source of capital, at a time and an amount of our choice, allowing our primary focus to remain on the execution of our development plans.”