I just posted it. Have been away from the puter, and just checked email when I got the alert and checked it out.
Same as Winky posted 2 days ago.
Remember what you said, about VSCP and its dilution a while back?
It seems here that the boyz are creatively financing. I wonder if the units will trade as UPBSU and if the warrants will be split off and trade as UPBSW & UPBSZ (or something).
I haven't checked the OTCBB to see if they say anything about it.
Here is something I got this morning. Looks like a rehash:
Upstream Biosciences Inc. recently announced that the Company has secured a $2M equity financing. Under the terms of the deal, Upstream has received $1M in immediate financing and will receive $1M within 30 days contingent on the successful completion of corporate milestones. The units are priced at $1.50 per unit and each unit consists of one common share, 1 share purchase warrant priced at $1.75 and 1 share purchase warrant priced at $1.85. The Company is contemplating two closings of 666,667 units each. The first tranche to close will result in net proceeds to the Company of $1,000,000. If all warrants are exercised, the Company will receive an additional $2,400,000 bringing total proceeds in the first tranche of $3,400,000. If the second tranche of the financing closes it will result in total net proceeds to the Company of $6,800,000. This amount includes all warrants being exercised. Pursuant to the deal, the Company will issue 1,333,334 shares and 2,666,668 warrants. The Company intends to utilize the proceeds from this financing to further validate its genetic markers and drug response assay.
Upstream Biosciences Inc. is an emerging leader in the field of genetic diagnostics for cancer and the prediction of drug response founded in 2004.
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