Marvel Biosciences Corp. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.10 per unit for the gross proceeds of CAD 1,000,000 on May 16, 2024. Each Unit will be comprised of one common share and one Common Share purchase warrant. Each Warrant entitles the holder to purchase one Common Share at an exercise price of CAD 0.15 per share on the date that is two years from the date of the issuance. In connection with the Offering, the Company may pay a finder?s fee in connection with the issue and sale of any or all of the Units under the Offering. The Finder?s Fee shall consist of a payment of up to 7% of the gross proceeds of the Offering payable in cash, plus finder?s warrants in an amount equal to up to 7% of the aggregate number of Units, with each Finder?s Warrant being exercisable to acquire one common share at a price of CAD 0.15 per share until two years following the issuance of the Finder?s Warrants. The Common Shares and the Warrants are subject to a hold period and resale restriction in Canada
that expires four months plus one day from the issuance of the Units and such other restrictions as imposed under applicable securities legislation. The Offering is subject to acceptance by the TSX Venture Exchange.