BetterLife Pharma Inc (CSE:BETR, OTCQB:BETRF) has announced the closing of a brokered private placement worth $1.5 million.
The company is offering 15 million units at a price of $0.10 per unit, with each unit containing one share and one share purchase warrant. The warrants are exercisable at a price of $0.15 for a period of 24 months.
CEO Ahmad Doroudian purchased 2 million units at a price of $200,000, the company noted.
Meanwhile, concurrent with the closing of the brokered offering, the company closed a non-brokered private placement with gross proceeds of $357,143. BetterLife offered more than 3.5 million units at a price of US$0.07. The units include warrants exercisable at US$0.11.
BetterLife Pharma is an emerging biotechnology company primarily focused on developing and commercializing two compounds, BETR-001 and BETR-002, to treat neuropsychiatric and neurological disorders.
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