Sernova closes $2.33-million and/or BUT ?? | SVA.V Message Board Posts

Sernova Corp.

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Msg  200 of 411  at  8/19/2019 1:26:49 PM  by


Sernova closes $2.33-million and/or BUT ??

Sernova Announces First Closing of Private Placement

Offering Increased to $3,500,000

LONDON, ONTARIO - TheNewswire - August 19, 2019 - Sernova Corp. (TSXV:SVA) (FSEPSH) (OTC:SEOVF), a clinical-stage regenerative medicine company, is pleased to announce that it has completed a first closing of $2,333,500 of its non-brokered private placement, (which was announced on July 25, 2019), of which $64,000 was closed under the "Existing Shareholder Exemption."

In addition, the Company announces that it is increasing the maximum offering by an additional $500,000, for a total offering of $3,500,000 of Units. Each Unit in the Offering is priced at $0.20 per Unit and consists of one common share and one common share purchase warrant ("Warrant"). Each Warrant will be exercisable into one share at a price of $0.30 per share for a period of 36 months.

The Company plans to close the balance of the placement in the coming weeks.

Net proceeds from the increased portion of the private placement will be used to support funding of Sernova's clinical program including its FDA cleared US Phase I/II regenerative medicine clinical trial and to advance corporate/academic collaborations utilizing the Company's platform technology to treat diabetes, hemophilia and other serious disease conditions, as well as for investor relations and general corporate purposes.

Completion of the private placement is subject to the approval of the TSX Venture Exchange. All securities issued in connection with the private placement will be subject to a statutory hold period of four months. ... continued ....

The good side is "more coin". The negative is the indefinite closing in "coming weeks".

An indefinite closing implies more games being played with the share price, which will go nowhere until after the final closing.

I truly hope that the final closing will happen much faster than "The Second Coming". Further, I hope no block buster news is issued until after the final closing.

NOTE the $64k only from Existing Shareholders when a cool million was set aside for them. This means that part of this million is going to deeper pockets as well as the added half million.

This means that Existing Shareholders are tapped out whereas deeper pockets not so much

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