XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT), a bioscience accelerator focused on next-generation drug delivery, diagnostic and new active pharmaceutical ingredient investment opportunities, has announced that, further to its news release of March 25, 2022, it has closed the first tranche of its private placement. According to the update, the company issued 1,250,000 common shares, each at $1.00, for total gross proceeds of $1,250,000. With respect to the placement, the company paid $100,000 and issued 100,000 share purchase warrants in finder’s fees. Each finder’s warrant is exercisable into one common share at a price of $1.00 per share for a period of two years from date of issuance. XPhyto Therapeutics will use net proceeds of the placement to facilitate development and commercialization of its oral and transdermal drug formulations, diagnostic test products, and psychedelic API and drug formulations as well as for general working capital purposes.
To view the full press release, visit https://ibn.fm/fJ8xi
About XPhyto Therapeutics Corp.
XPhyto Therapeutics is a bioscience accelerator focused on next-generation drug delivery, diagnostic and new active pharmaceutical ingredient investment opportunities, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets. For more information, visit the company’s website at www.XPhyto.com.
NOTE TO INVESTORS: The latest news and updates relating to XPHYF are available in the company’s newsroom at https://ibn.fm/XPHYF
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