Microbix Biosystems Inc (MBXBF)

[yielddude]

Probable explanation for price drop today and volume .....

Hold period from this placement has ended, and these investors can sell their shares. 12M shares bought at .20/share now being sold at .30+/share. Many will not sell, but some shareholders may be selling because they need the money for whatever reason. I expect this will be a short term blip over the long run.

MISSISSAUGA, Ontario, Jan. 31, 2020 (GLOBE NEWSWIRE) -- Microbix Biosystems Inc. (TSX: MBX, Microbix®), a life sciences innovator making critical ingredients that enable the production of clinical diagnostics and creating medical devices that help ensure test accuracy, announces that it has completed a non-brokered private placement financing with gross proceeds of $2,355,000, by issuing an aggregate of 11,775,000 units (“Units”) at a price of $0.20 per Unit.

Each Unit consists of one common share (“Common Share”) of Microbix and one warrant (“Warrant”) to purchase one Common Share. Each Warrant entitles the holder to purchase one additional Common Share at a price of $0.36 for five years. All securities issued under the private placement will be subject to a hold period expiring four months and one day from the date of closing.

https://finance.yahoo.com/news/microbix-completes-non-brokered-private-120010067.html