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Hemostemix Raises C$322,250 From Second Tranche of Private Placement

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Hemostemix (HEM.V) closed the second tranche of its non-brokered private placement of units, raising gross proceeds of C$322,250, it said after markets closed Thursday.

The company issued around 6.4 million units priced at C$0.05 each under the second tranche, said the company.

Each unit is made up of a share and one-half of a two-year warrant, with each whole warrant entitling the holder to buy an additional share at C$0.12 apiece, it said. The warrants are subject to an accelerated expiry provision, added Hemostemix.

The company has also been granted an extension to Aug. 14 by the TSX Venture Exchange to close the rest of the non brokered private placement of $1 million, added Hemostemix.

The company's shares were last seen unchanged at C$0.06 on the TSX Venture Exchange.

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