Replies to post #404 on ProMIS Neurosciences Inc (PMN)

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ProMIS Neurosciences Announces Gross Proceeds of $1,257,970 Related to the Exercise of Common Stock Warrants
By Promis Neuro Admin on Feb 25, 2020 06:30 am
TORONTO, Ontario and CAMBRIDGE, Mass. —February 25, 2020 — ProMIS Neurosciences, Inc. (TSX: PMN) (OTCQB: ARFXF), a biotechnology company focused on the discovery and development of antibody therapeutics targeting toxic oligomers implicated in the development of neurodegenerative diseases, is pleased to report that a total of 6,289,851 of the common share purchase warrants issued on February 10 and February 21, 2017 in a non-brokered private placement were exercised at a price of $0.20 per share for gross proceeds of $1,257,970, the vast majority of such proceeds having been received in the last month prior to the February 21, 2020 expiry date.

Commenting on today’s announcement, ProMIS Executive Chairman, Eugene Williams, stated: “We are very pleased to receive the proceeds from warrant exercise. The additional funds will now extend our cash life further into 2020. ProMIS remains focused on developing PMN310 as potential best in class therapy for Alzheimer’s disease.”