VANCOUVER, British Columbia, June 24, 2016 (GLOBE NEWSWIRE) — BioMark Diagnostics Inc. (“BioMark” or the “Company”) (CSE:BUX) (FSE:20B) (OTCQB:BMKDF) is pleased to announce that further to its press release dated June 20, 2016, it has closed the second tranche of a non-brokered private placement for gross proceeds of $163,615 wherein BioMark issued 1,090,767 units at a price of $0.15 per unit.
Each unit consists of one common share of BioMark and one-half of one share purchase warrant. One whole share purchase warrant will entitle the holder thereof to purchase one common share of BioMark at $0.30 per share for a period of one year from the closing date of the private placement, subject to an acceleration clause. Finder’s fees are payable on the private placement.
BioMark closed the first tranche of the private placement on March 15, 2016 for proceeds of $408,954. The aggregate proceeds from the offering to date are $572,569.
The proceeds of the private placement will be used for the continuation of the company’s phase 3 clinical trials, marketing initiatives and general working capital. The securities in the private placement will be subject to a holding period of four months and one day from the closing date of the private placement. Certain Insiders, Directors and Officers may subscribe for a portion of this placement.
About BioMark Diagnostics Inc.
BioMark Diagnostics is developing proprietary, non-invasive, and accurate cancer diagnostic solutions, to help detect, monitor and assess treatment for cancer early and cost effectively. The technology will also be used for measuring response to treatment and potentially for serial monitoring for cancer survivors. For more information please visit the company website at: www.biomarkdiagnostics.com
On Behalf of the Board of Directors
BIOMARK DIAGNOSTICS INC.
“Rashid Ahmed Bux”
President, CEO and Director
Contact Information
Rashid Ahmed Bux – President & CEO
BioMark Diagnostics Inc.
Tel. 604-282-6567
Email: [email protected]
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of BioMark. Forward-looking information is based on certain key expectations and assumptions made by the management of BioMark. Although BioMark believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because BioMark can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. BioMark disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws or any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirements.
The CSE has not reviewed, approved or disapproved the content of this press release.