Twitter Facebook LinkedIn YouTube

InMed Pharmaceuticals Inc. (CSE:IN) (OTCQB:IMLFF) has announced a non-brokered private placement.

Video Platform Video Management Video Solutions Video Player

The offering of up to approximately 6.7 million units (show 6,666,667) is priced at $0.15 per unit for gross proceeds of up to $1 million. Each unit will consist of one common share and one-half of a warrant, with each full warrant exercisable at $0.30 for a period of 12 months.

Additional Information:

Company: InMed Pharmaceuticals Inc.
Website: http://www.inmedpharma.com/s/home.asp
Stock Symbol: CSE:IN)
Date Published: Nov 5, 2015
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

InMed Pharmaceuticals Inc. (CSE:IN ) (OTCQB:IMLFF) has announced a non-brokered private placement.

The offering of up to approximately 6.7 million units (show 6,666,667) is priced at $0.15 per unit for gross proceeds of up to $1 million.

Each unit will consist of one common share and one-half of a warrant, with each full warrant exercisable at $0.30 for a period of 12 months.

The net proceeds from this private placement will be used for general working capital purposes.

InMed is a clinical stage biopharmaceutical company that specializes in developing novel therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems.

InMed’s proprietary drug discovery program seeks to identify a systems approach to treating diseases using known and as yet unknown genes identified using our proprietary bioinformatics process.

The company is currently working on two products in its development pipeline.

INM-750 is for the treatment of Epidermolysis Bullosa, a serious pediatric orphan disease which affects approximately 25,000 patients in the U.S., and 500,000 globally.

InMed has reported that INM-750 has demonstrated positive effects in pre-clinical studies on wound healing and in inflammation.

The second product, INM-085, is for the treatment of Glaucoma, the second leading cause of blindness in the developed world.

2.7 million people in the United States suffer from glaucoma, a number that is expected to reach 4.3 million by 2030.

The company’s shares are trading at $0.14, and with 57.9 million shares outstanding, the company is capitalized at $8.1 million.

For more information, please visit the company’s website www.inmedpharma.com, contact Paul Brennan, President & CEO, at 604-669-7207 or email info@inmedpharma.com.
.
I’m Samantha Deutscher for Investmentpitch Media