VANCOUVER, Dec. 22 /CNW/ - Protox(TM) Therapeutics Inc. (TSX-V:PRX - News) announced today that it has closed a second tranche of its previously announced private placement. An additional 1,750,000 units were placed with new institutional and retail investors at a price of $0.50 per unit for total gross proceeds of $875,000. Each unit comprises one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of Protox at a price of $0.65 on or before 22 December 2008. The Company paid customary commissions and issued 122,500 warrants to co-agents Jennings Capital Inc. and Canaccord Capital Corp. In addition, finder’s fees including 5,375 warrants were paid in respect of this transaction.
