The Jenex Corporation announced today that it is proposing to complete, subject to regulatory approval, a non-brokered private placement of up to 1,130,000 units at a price of $0.27 cents per unit to raise up to $305,100. Each unit will consist of one common share of the corporation and one half of a non-transferable share purchase warrant at $0.40 (up to 565,000 whole warrants in total).
Each whole warrant will entitle the holder thereof to purchase one additional common share of the corporation at a price of .40 cents per common share for a period of one year following the closing date of the private placement. In connection with the foregoing, the corporation proposes to pay a finder's fee to its agent, Kingsdale Capital Markets Inc., of up to $24,408 in cash and 56,500 warrants on the same terms as the warrants issued to investors.
The transaction is subject to TSX Venture Exchange approval and the shares and warrants will be subject to a four month hold period from the date of issue.
About Kingsdale Capital
Kingsdale Capital is a leading global financial services organization and more information about Kingsdale can be found at www.kingsdalecapital.com
About The Jenex Corporation
The Jenex Corporation owns a patented Thermal Therapy technology. The first device developed from this technology is the Therapik(R) product, for relief of pain and itch caused by insect stings and bites. Therapik(R) has been approved as a Class II medical device in Canada (TPD) and the United States (FDA), and has received CE approval in Europe. The second device, interceptCS is the first product clinically proven and approved (TPD) to prevent cold sores. interceptCS is available exclusively in Canada at Shoppers Drug Mart/Pharmaprix. More information about the Corporation can be found at www.jenexcorp.com & www.interceptCS.com . -- www.cnxmarketlink.com
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