Venture Market News for January 22, 2019
- KushCo Holdings, Inc. Closes $34,000,000 Registered Direct Offering
GARDEN GROVE, Calif., Jan. 22, 2019 (GLOBE NEWSWIRE) — KushCo Holdings, Inc. (OTCQB: KSHB) (“KushCo” or the “Company”), the parent company of innovative cannabis industry leaders such as Kush Supply Co., Kush Energy, The Hybrid Creative, and Koleto Innovations, which provide a range of services and products for the regulated cannabis, CBD and other related industries, today announced it closed a registered direct offering of 6,476,190 shares of common stock and warrants to purchase 3,238,095 shares of common stock with a combined purchase price of $5.25 per share on January 18, 2019. The warrants have an exercise price of $5.75 per share, are immediately exercisable and will expire five years from the date of issuance. The gross proceeds of the offering are approximately $34,000,000 before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds for general corporate purposes, including, among other things, working capital, product development, acquisitions, capital expenditures, and other business opportunities.
- Innovation Pharmaceuticals Announces Clinical Development Plans for Oral Brilacidin for Inflammatory Bowel Disease
BEVERLY, Mass., Jan. 22, 2019 (GLOBE NEWSWIRE) — Innovation Pharmaceuticals (OTCQB:IPIX) (“the Company”), a clinical stage pharmaceutical company, is pleased to announce plans to initiate in 2019 a clinical trial of Brilacidin, its novel defensin-mimetic drug candidate, as an oral dosage form. Building upon the successful Phase 2 Proof-of-Concept (PoC) clinical trial for Ulcerative Proctitis/Ulcerative Proctosigmoiditis (UP/UPS), the aim of this program is to develop treatment for the more extensive forms of Inflammatory Bowel Disease (IBD), such as Ulcerative Colitis and Crohn’s Disease.
- Lightwave Logic, Inc. Secures $25MM Common Stock Purchase Agreement with Longstanding Investor Lincoln Park Capital Fund, LLC
ENGLEWOOD, CO, Jan. 22, 2019 (GLOBE NEWSWIRE) — Lightwave Logic, Inc. (OTCQB: LWLG), a technology company focused on the development of Next Generation Photonic Devices and Non-Linear Optical Polymer Materials Systems for applications in high-speed fiber-optic data communications and telecommunications today announced that it has secured a new $25 million purchase agreement (“Agreement”) with Lincoln Park Capital Fund, LLC (“LPC”), a Chicago based institutional investor.
- Novo Provides Update on Near-Term Exploration Progress
VANCOUVER, British Columbia, Jan. 22, 2019 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to provide an update on near-term exploration progress.
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