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PharmaCorp Rx Closes C$11.5 Million Bought-Deal Offering of Share Units

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PharmaCorp Rx (PCRX.V) on Tuesday closed a bought-deal public offering for gross proceeds of C$11.5 million, including the full exercise of the underwriters' over-allotment option.

Underwriters purchased 22.55-million units priced at C$0.51 and made up of a share and one half of a two-year warrant to buy a share for C$0.60.

Proceeds will be used for future acquisition opportunities and general working capital requirements, the company said.

The company's shares were last seen unchanged at C$0.50 on the TSX Venture Exchange.

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