MONTREAL, Oct. 1 /CNW Telbec/ - Arura Pharma Inc. (TSX-V: ARP) (“Arura”) announces its intent to proceed with a brokered private placement for an amount of up to $3,000,000. The offering will be conducted on a best-efforts basis by Laurentian Bank Securities Inc. (the “Agent”). The placement will consist of units issued a price of $0.125 and composed of one common share and one-half common share purchase warrant (a “Unit”). Each whole warrant will allow the holder to purchase an additional common share of Arura at the price of $0.225 for a period of twenty-four months. Assuming that the Private Placement is fully subscribed, an aggregate of an additional 24,000,000 common shares of Arura will be issued prior to the exercise of the Warrants and of the Agent’s options.
