Hemostemix closes CDN$280,594 private placement

Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) (FSE: 2VF0) announced that the TSX Venture Exchange conditionally approved the company's non-brokered private placement totaling CDN$280,594.

The offering consisted of issuing 2,244,752 common shares at CDN$0.125 per share. Subject to final TSXV approval, the company will issue the shares to an arm's length investor who is not a related party to the company.

Hemostemix stated the proceeds will be allocated to general working capital purposes, supporting continuing operational expenses and business development activities.

All securities issued in connection with the offering are subject to a four-month hold period from the closing date under applicable Canadian securities laws, plus other restrictions that may apply under securities laws of jurisdictions outside Canada.

The Calgary-based company develops autologous stem cell therapy and offers VesCell (ACP-01) to patients with peripheral arterial disease, chronic limb threatening ischemia, angina, ischemic cardiomyopathy, non-ischemic dilated cardiomyopathy, congestive heart failure, and total body ischemia in Florida under Florida's SB 1768.

The company confirmed there is no material fact or material change about the company that has not been generally disclosed.

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