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Calyx Announces Closing of Private Placement
Friday, July 5, 2013Company Profile | Follow Company
Vancouver, BC, July 5, 2013--(T-Net)--Calyx Bio-Ventures Inc. (TSXV:CYX) announced that it closed the first tranche of the non-brokered private placement first announced on June 25, 2013 and further increased on July 3, 2013 (the “First Closing”). The First Closing consisted of the sale of 3,763,334 units (the “Units”) at a price of $0.15 per unit for gross proceeds of $564,500.
Each Unit comprises one common share of the Company and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable into one common share of the Company for a period of 18 months from closing at an exercise price of $0.35.
In connection with the First Closing, the Company paid finders fees of $44,720 and issued 171,467 brokers' warrants (the “Brokers' Warrants”). Each Brokers' Warrant is exercisable into one common share of the Company for a period of 18 months from closing at an exercise price of $0.35.
The funds raised from the First Closing will be used general working capital purposes.
The securities issued will be subject to a standard four month hold period which will expire November 5, 2013.
About Calyx
Calyx Bio-Ventures Inc. (TSXV: CYX) is an agricultural technology company focused on renewable fuels including biojet and biodiesel. Calyx's operating subsidiary, Agrisoma Biosciences Inc., is producing a new proprietary non-food energy feedstock crop, Resonance® carinata, which yields oil that can be refined into fuels that work in existing engines as a 100 percent petroleum substitute. From seed to sky, fuels produced from Resonance® carinata substantially reduce carbon and other harmful emissions, and help to reduce global petroleum dependence. For further information about Calyx, please visit www.calyxbio.com. Resonance® is a registered trademark of Agrisoma Biosciences Inc.