Vanc Pharmaceuticals Inc

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Alda Pharmaceuticals arranges $1-million financing

2012-12-03 18:46 ET - News Release


Mr. Terrance Owen reports

NON BROKERED PRIVATE PLACEMENT FINANCING

Alda Pharmaceuticals Corp. has arranged a non-brokered private placement of up to 10 million units at a price of 10 cents per unit for gross proceeds of up to $1-million.

Each unit will consist of one common share of the company and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company for a period of 24 months at a price of 20 cents per common share.

Any finder's fee will be paid by the company in accordance with the policies of the TSX Venture Exchange.

Proceeds from the offering will be used by Alda for general corporate and working capital purposes.

The above private placement is subject to all regulatory and board approvals.