Attached files
file | filename |
---|---|
EX-10.1 - FORM OF SUBSCRIPTION AGREEMENT - MetaStat, Inc. | ex10-1.htm |
8-K - FORM 8-K - MetaStat, Inc. | mtst8k.htm |
Exhibit 99.1
MetaStat Closes First Round of a $7 million Private
Placement
Boston, MA, June 27, 2017 -- MetaStat, Inc. (OTCQB:
MTST), a personalized medicine
company developing therapeutic and diagnostic treatment solutions
for cancer patients, announced today it has consummated an initial
closing of a private placement of up to $7 million of its common
stock. The offering resulting in gross proceeds of approximately
$2.14 million before placement agents’ fees and offering
expenses was led by prominent institutional healthcare investor,
Perceptive Advisors, LLC, along with other existing
institutional and accredited
investors.
The private placement consisted of an aggregate of 690,816 shares
of common stock and approximately 196,216 shares of Series A-2
convertible preferred stock, convertible into 1,962,164 shares of
common stock. Additionally, in connection with the private
placement, the company adjusted the exercise price of 474,829
outstanding common stock purchase warrants from $3.00 per share to
$2.00 per share. MetaStat has
until July 31, 2017 to complete the private
placement.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the company’s securities, nor
shall there be any sale of the company’s securities in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification for an
exemption under the securities law of any such jurisdiction,
including the registration requirements under U.S. securities laws.
The company plans to file a Form 8-K with the U.S. Securities and
Exchange Commission with more information regarding the private
placement.
About MetaStat, Inc.
MetaStat is a biotechnology company focused on discovering and
developing personalized therapeutic and diagnostic treatment
solutions for cancer patients. Our Mena isoform
“driver-based” diagnostic biomarkers also serve as
novel therapeutic targets for anti-metastatic drugs. MetaStat is
developing therapeutic product candidates and paired companion
diagnostics based on a novel approach that makes the Mena isoform
protein a drugable target. Our core expertise includes an
understanding of the mechanisms and pathways that drive tumor cell
invasion and metastasis, as well as drug resistance to certain
targeted therapies and cytotoxic chemotherapies. MetaStat is based
in Boston, MA.
Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. You are cautioned that such statements are subject to a
multitude of risks and uncertainties that could cause future
circumstances, events or results to differ materially from those
projected in the forward-looking statements as a result of various
factors and other risks, including those set forth in the company's
Form 10-K and its other filings filed with the Securities and
Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not
place undue reliance on such statements. The forward-looking
statements in this release are made as of the date hereof and the
company undertakes no obligation to update such
statements.
MetaStat, Inc.
Rick Pierce, VP Investor Relations
Phone: 617-531-0874
rpierce@metastat.com
Source: MetaStat, Inc.