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Preveceutical to increase private placement to C$8mln due to investor demand

The company said the funds will be used for research and development programs and for general working capital purposes.
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The company develops innovative options for preventive and curative therapies

Health sciences company, PreveCeutical Medical Inc. (CSE:PREV) announced today that it expects its previously-announced C$4mln non-brokered private placement 2018 will be oversubscribed due to higher-than-expected investor demand.

The company said the offering will be increased up to $8mln in gross subscription proceeds. 

Funds raised will help fund the company's research and development programs and for general working capital purposes.

READ: Preveceutical Medical announces advisory services deal with Stadnyk & Partners

The company recently announced a stock split, which was on the basis of five new shares for each one existing (5:1).

Shares of Preveceutical were down 6.25% at C$0.08 on Monday. 

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