Sona Nanotech Closes Private Placement Financing to Raise $1,500,000 in Gross Proceeds and Announces Additional Financing
Halifax, Nova Scotia — (Newsfile Corp. – September 5, 2024) – Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the “Company” or “Sona”) is pleased to announce that it has closed its non-brokered private placement that was announced on July 31, 2024 with the issuance of 6,000,000 common shares (each, a “Share”) at $0.25 per share, (the “Financing”). As previously disclosed, Sona intends to use the net proceeds of the Financing for advancing studies to support regulatory permission for an international, multi-site, first-in-human clinical trial, further research and development of its Targeted Hyperthermia TherapyTM (“THT”), as well as for general working capital purposes.
Numus Capital Corp. (the “Finder”), a registered Exempt Market Dealer, acted as exclusive finder for the Financing. In connection with the private placement, Sona paid the Finder a cash commission of $88,750 and issued 355,000 non-transferable share purchase warrants (the “Finder Warrants”). Each Finder Warrant entitles the Finder to acquire one Share at an exercise price of $0.25 until September 5, 2026. The Finder is a related party to Sona, a director of Sona being indirectly a principal shareholder of the Finder, as well such director of Sona also being a director and officer of the Finder.
