I think we have a few Canadian companies in our lists and that happens if they trade on one of the American stock exchanges and filings show up with the SEC.
MMIRF.PK doesn't appear to have ever filed anything with the SEC.
Your find could be MedMira's first financing with Yorkville.
However ... MedMira gave themselves the opportunity to borrow money from Yorkville back in 2005. Without doing some digging , I can't tell if they ever actually went through with it.
What think? Perhaps checking filings at whatever Canada's version of the SEC would turn up something.
MedMira Announces $10 Million U.S. Institutional Financing Commitment Will Provide Capital for Next Phase of Commercialization * NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S. Halifax, Nova Scotia, September 6, 2005 – MedMira Inc., (MedMira) (TSX Venture: MIR, NASDAQ: MMIRF) the global market leader in rapid flow-through diagnostic tests, announced today that it is has entered into a Subscription Agreement with Cornell Capital Partners, LP (Cornell), a New Jersey-based private equity fund, for the purchase of up to C$10 million in common shares over a five year period. The investment contemplated by the Subscription Agreement, signed on September 6, 2005, will permit MedMira to accelerate various commercialization activities. Pursuant to the terms of the Subscription Agreement, MedMira has the right, but no obligation, to draw funds on a periodic basis in tranches of C$150,000 each in exchange for the issuance of common shares. The purchase price of the shares will be calculated, at the time of issuance, using a formula based on a percentage of the volume-weighted average market price (VWAP) over a 10 day period. Cornell has undertaken not to hold a short position in MedMira shares during the term of the Subscription Agreement. The closing of this transaction is subject to MedMira’s issuance of a prospectus and the receipt of regulatory and TSX Venture Exchange approvals. Closing is expected to take place in the early fall of 2005. “We are pleased to enter into this institutional financing agreement with Cornell”, said Stephen Sham, chairman and CEO of MedMira. “The flexibility and control offered by this type of capital structure will allow MedMira to access funds, when required, on terms favourable to our shareholders. This financing commitment will contribute to our capabilities for the next phase of commercialization and further growth in the global market.” Philip Ho, Managing Director, Global Capital Markets at Cornell stated, “We are excited to have this opportunity to work with MedMira. We look forward to building on our relationship with the company’s senior management team, for whom we have great respect.” About Cornell Capital Partners, LP Managed by US based Yorkville Advisors, LLC, Cornell Capital Partners, LP (Cornell) has structured equity participation agreements in the United States, United Kingdom, Germany, Singapore and Australian financial markets. Cornell is recognized as a world leader in these types of agreements and has made available in excess of $900 million for close to 100 publicly quoted corporations. Information regarding Cornell can be found at www.cornellcapital.com. -more-
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