Vancouver, British Columbia TheNewswire – Â July 4, 2022. Lexston Life Sciences Corp. (the “Company”) (CSE:LEXT) (OTC:LEXTF) announces that further to its news releases dated June 1, 2022 and June 27, 2022, the Company has issued 18,562,440 units (“Units”) at a purchase price of $0.05 per Unit for gross proceeds of $928,122 (the “Private Placement”). Â Each Unit consists of one common share in the capital of the Company (“Share”) and one share purchase warrant (“Warrant”). Â Each full Warrant entitles the holder to purchase one Share for a period of five years, at a purchase price of $0.075 per Share. Â
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The Company has paid $4,480 cash to Haywood Securities Inc and $15,400 to Raymond James Ltd. and issued 89,600 broker’s warrants to Haywood Securities Inc. and 308,000 broker’s warrants to Raymond James Ltd. as finders’ fees. Â The finders’ warrants are subject to the same terms and conditions as the Warrants issued pursuant to the Private Placement.
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All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
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The net proceeds from the Private Placement will be used by the Company for general working capital.
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On Behalf of the Board of Directors
LEXSTON LIFE SCIENCES CORP.
Jagdip Bal Chief Executive Officer
Telephone: (604) 928-8913
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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