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IntelGenx Announces Second Tranche Closing of Private Placement

SAINT LAURENT, Quebec, Oct. 23, 2020 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. (TSX-V:IGX) (OTCQB:IGXT) (the “Company” or “IntelGenx”) is pleased to announce that it has closed a private placement (the “Offering”) to certain investors in the United States of U.S.$532,000 principal amount of 8% convertible notes due October 15, 2024 (the “Notes”). The Notes will bear interest at a rate of 8% per annum, payable quarterly, and will be convertible into shares of common stock of the Company (the “Shares”) beginning 6 months after their issuance at a price of U.S.$0.18 per Share. The Offering represents a second tranche of the Notes. As previously announced, the Company closed an offering of an additional $1.2 million of Notes on October 15, 2020. Read More

from Financial Post https://ift.tt/2HsQ4Pm
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