Arch BioPartners (TXSV:ARCH; QTCQB:ACHFF) has arranged a non-brokered private placement of 225,806 common shares at $1.55 per share, generating proceeds of CAD $350,000.
According to Arch, the offering, set to close tomorrow, will provide general working capital and cover expenses not funded by the company’s grants. The transaction remains subject to certain conditions.
The company states that all common shares issued will be subject to a hold period of four months and one day from the closing date. Additionally, finders’ fees totaling $13,500 will be paid to arm’s length parties in connection with the offering.
