On May 31, 2021, BetterLife Pharma Inc. (“BetterLife” or the “Company”) entered into an agreement with Research Capital Corporation as sole agent and bookrunner, in connection with a marketed public offering of units of the Company (the “Units”) at a price of $0.40 per Unit for gross proceeds to the Company of $2,610,000 (the "Offering"), and the subsequent issuance of additional Units as a result of the partial exercise of the over-allotment option, for total gross proceeds of approximately $2,836,953.
Each Unit is comprised of one common share of the Company (a "Common Share") and one Common Share purchase warrant of the Company (a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.50 expiring on May 28, 2024.
The closing of the Offering occurred on June 7, 2021.
BetterLife Pharma is an emerging biotechnology company engaged in the development and commercialization of next generation psychedelic products for the treatment of mental disorders.
Fasken advised Research Capital Corporation with a team led by John Sabetti and including Florind Polo, Jordana Keslassy and Mitchell Thaw.
Jurisdiction
- Ontario
