XORTX Therapeutics Inc.
XORTX Therapeutics Inc. is offering Non-brokered private placement of up to 36,000,000 Units, each Unit comprising one common share at $0.14 and one common share purchase warrant, with each Warrant exercisable at $0.25 for a period of one year. The Proceeds of the Offering utilized: To advance to a FDA pivotal registration clinical trial (Phase 3) in autosomal dominant polycystic kidney disease (“ADPKD”) with XRx-008 – XORTX’s proprietary oral formulation of Oxypurinol; Second program focus to advance to a phase 2b proof of concept clinical trial for the treatment of type 2 diabetic nephropathy (“T2DN”) with TMX-049, a “next generation” xanthine oxidoreductase drug with Teijin Pharma Limited (“Teijin”); and for general corporate purposes.
The Proceeds of the Offering utilized:
- To advance to a FDA pivotal – Phase 3 – registration clinical trial in autosomal dominant polycystic kidney disease (“ADPKD”) with XRx-008, XORTX’s proprietary oral formulation of Oxypurinol;
- To advance to a phase 2b proof of concept clinical trial for the treatment of type 2 diabetic nephropathy (“T2DN”) with TMX-049, a “next generation” xanthine oxidoreductase drug with Teijin Pharma Limited (“Teijin”); and and
- For general corporate purposes.
RYU Apparel Inc.
RYU Apparel Inc. – each unit is priced at of $0.05 per unit. Each Unit is comprised of one common share in the capital of the Issuer and one transferable common share purchase warrant. Each Warrant will entitle the holder thereof to acquire one Share at a price of $0.10 per Warrant Share until 5:00 p.m. (Vancouver time) on the date of expiration of the Warrant, which is three (3) years following the Closing Date as defined herein, subject to the Acceleration Provision. Acceleration provision in this Agreement, in the event that the Issuer’s common shares trade at a price on the TSX Venture Exchange (or such other exchange on which the common shares may be traded at such time) of $0.15 or greater per Share for a period of five (5) consecutive trading days after four months and one day from the Closing, the Issuer may accelerate the expiry of the Warrants by giving notice to the holders thereof (by disseminating a press release advising of the acceleration of the expiry date of the Warrants) and, in such case, the Warrant will expire on the thirtieth (30th) day after the date of such notice.
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