The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Monday Deal Review: January 26, 2009

Canadian Deals we found this week:

  • GeneNews (GEN-T) announced on January 16 subscriptions for a second tranche of 5-year 15% redeemable convertible secured debentures in the aggregate principal amount of $718,782.85, issued at par along with 4 warrants per dollar of debenture principal exercisable for 36 months at $0.25 per common share.  Common Shares outstanding were 55,883,437.  Other GeneNews news here.
  • SQI Diagnostics (SQD-V) announced on January 21 that it had closed, subject to final regulatory approval, a second tranche of its private placement:  1,331,500 common shares at a price of $1.25 per common share.  The first tranche of 2.4 million common shares closed December 19, 2008.  The Company paid a finder’s fee of 8% cash and 106,520 warrants at a strike price of $1.25, expiring on January 21, 2011.  Other SQI news here.
  • The merger (pdf) of CMDF into GrowthWorks took one step closer to completion with the announcement on January 21 that JovFunds has agreed, for payments in the approximate aggregate amount of $6 million and possible earn-outs, to “effectively terminate the various CMDF related management contracts to which JovFunds and its affiliates are parties.”
  • Ondine Biopharma (TSX: OBP; AIM: OBP) announced January 23 it intends to issue, via a non-brokered private placement, 17,000,000 common shares at a price of $0.06 per share for aggregate gross proceeds of C$1.02 million, including 6,135,000 common shares to insiders.
  • Cangene (TSX: CNJ) announced January 23 that it’s increasing the maximum number of common shares available for purchase under its normal course issuer bid from 1,000,000 to 1,250,000 Common Shares.

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2 responses to “Monday Deal Review: January 26, 2009

  1. Pingback: Monday Deal Review: February 16, 2009 « The Cross-Border Biotech Blog

  2. Pingback: Monday Deal Review: March 2, 2009 « The Cross-Border Biotech Blog

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