GeneNews closes concurrent private placement offerings for US$2.1 million

On November 12, 2010, GeneNews Limited (TSX:GEN) completed its two previously announced concurrent private placement offerings: one offering of units and another offering of five-year senior 15% redeemable convertible secured debentures. Through the concurrent offerings, GeneNews raised total gross proceeds of $2,125,452. GeneNews is an emerging molecular diagnostics company focused on the application of functional genomics to enable early diagnosis and personalized health management based on disease-specific biomarkers. GeneNews was advised in this transaction by Fasken Martineau with a team that included Geoff Clarke, Brad Freelan, and Michael Shour (corporate/securities).