MISSISSAUGA, ON, June 3 /CNW/ - YM BioSciences Inc. (NYSE Amex:YMI, TSX:YM), announced today that it has raised approximately US$3.2 million through a non-brokered private placement of 2,500,000 common shares to be issued at US$1.27. The sale price is at no discount to the closing price of the shares on the NYSE Amex on June 1, 2010. Listing of the common shares sold has been approved by the NYSE Amex and conditionally approved by the Toronto Stock Exchange (TSX) subject to the Company fulfilling all the requirements of the TSX. The investment was made by a leading international health-care-specific investment fund management company recognizing the increased demands on YM’s cash resources from the recently announced expansion by the Company into the earlier-than-planned Phase II component of its trial at Mayo Clinic with CYT 387 in myelofibrosis.
