LexaGene Holdings (TSX.V: LXG) (OTCQB: LXXGF), a molecular diagnostics company that develops fully automated rapid pathogen detection systems, today confirmed that it has closed its previously announced offering of units for aggregate gross proceeds of approximately C$13.29 million. According to the update, the company issued 15,640,000 units, each at a price of C$0.85, with each unit consisting of one common share of the company and ½ of one common share purchase warrant, with each whole warrant entitling the holder to purchase one share, at the price of C$1.10 per share, until September 9, 2023. “Over the last four years, LexaGene has constantly been gaining momentum. This financing will allow us to complete the transformation of going from strictly an R&D company, to one that is supporting manufacturing and sales,” Dr. Jack Regan, CEO and founder of LexaGene, said in the news release. “This is a very exciting time to be part of LexaGene as we look to make an impact on multiple market verticals.”
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About LexaGene Holdings Inc.
LexaGene is a molecular diagnostics company that develops genetic analyzers for pathogen detection and other molecular markers for on-site rapid testing in veterinary diagnostics, food safety and for use in open-access markets such as clinical research, agricultural testing and biodefense. End-users simply need to collect a sample, load it onto the instrument with a sample preparation cartridge, enter sample ID and press “go.” The MiQLab analyzer delivers excellent sensitivity, specificity, and breadth of detection and can return results in approximately one hour. The unique open-access feature is designed for custom testing so that end-users can load their own real-time “PCR” assays onto the instrument to target any genetic target of interest. For more information, visit the company’s website at www.LexaGene.com.
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