Published on September 29, 2009 at 2:42 AM
Urodynamix Technologies Ltd. (TSX VENTURE:URO) is pleased to announce that it has closed a $1.5 million non-brokered private placement for 30,000,000 common shares previously reported on September 11, 2009. BC Advantage Funds (VCC) Ltd. subscribed for $750,000 and management and directors subscribed for $238,675 of the $1.5 million placement.
The Company will offer an additional 10,000,000 common shares to third parties at a price of $0.05. No commission was payable on the 15,000,000 common shares issued to BC Advantage Funds under the first closing of the private placement. The Company will pay a commission of up to 7.5% on sales of common shares to third parties. All of the common shares issued under the private placement are subject to a four month resale restriction.
http://www.mdxmedical.com/