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Sona Nanotech Raises C$2.5 Million in a Private Placement of Shares

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Sona Nanotech (SONA.CN) late Monday said it closed a private placement of shares, raising C$2.5 million.

The company placed 8.4-million shares at C$0.30 apiece.

The company plans to use proceeds for advancing studies to support the clinical advancement and continuing research and development work on its Targeted Hyperthermia Therapy oncology treatment, and for general working capital needs.

Shares of the company were last seen down C$0.01, or 3%, to C$0.32 on the Canadian Securities Exchange.

Price: $0.32, Change: $-0.01, Percent Change: -3.03%

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