GeneNews (GEN.TO) Announces Proposed Non-Brokered Private Placement and Implementation of Share Consolidation
12/10/2012 9:15:53 AM
TORONTO, Dec. 7, 2012 (GLOBE NEWSWIRE) -- GeneNews Limited (TSX:GEN) ("GeneNews" or the "Company"), a molecular diagnostics company focused on developing blood-based biomarker tests for the early detection of diseases and personalized health management, today announced that it is proposing to complete a private placement (the "Private Placement") of up to 66,666,666 common shares from treasury at a price of $0.09 per share for total gross proceeds to the Company of up to $6,000,000. GeneNews will use the proceeds to accelerate commercialization of the ColonSentry® test in the United States, development and validation of pipeline products, and general working capital purposes.
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