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IntelGenx Announces Subscription for Notes

SAINT LAURENT, Quebec, July 27, 2021 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. (TSXV: IGX) (OTCQB: IGXT) (the “Company” or “IntelGenx”) announces that it has received subscriptions from investors in the United States for U.S.$2.1 million principal amount of 8% convertible notes due July 31, 2025 (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.$0.40 per Share. The offering of the Notes (the “Offering”) is subject to the approval of the TSX Venture Exchange, receiving an exemption from the prospectus requirement from the Autorité des marchés financiers, and other customary closing conditions. The Offering is expected to close on or about July 30, 2021. Read More

from Financial Post https://ift.tt/3f2QJo5
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