Callitas Health Inc (CSE:LILY) (OTCQB:MPHMF) announced Thursday that it completed a non-brokered private placement to raise US$289,225.
The Cincinnati-based health and wellness company’s stock rocketed nearly 35% on the OTC Markets Thursday to $0.093.
The company issued 3,856,333 units at a price of $0.075 per unit. Each unit consists of one share and one two-year warrant to purchase an additional share at $0.10.
The proceeds from the offering will be used for general working capital, the company said in a statement.
Callitas has a nimble strategy focused on getting quick revenues from mass-appeal over-the-counter products and a more long-term blockbuster pipeline.
Contact Uttara Choudhury at [email protected]