Algernon announces the closing of C$6.8 million private placement offering

On May 13, 2020, Algernon Pharmaceuticals Inc. (“Algernon” or the “Company”), a clinical stage pharmaceutical development company, closed its previously announced private placement offering of special warrants of the Company (the “Special Warrants”), which included the exercise of the over-allotment option, pursuant to which the Company issued 19,605,285 Special Warrants at a price of $0.35 per Special Warrant, for aggregate gross proceeds of $6,861,849 (the “Offering”). The Offering was led by Mackie Research Capital Corporation, as sole agent and book runner. Fasken advised Mackie Research Capital Corporation in completing this transaction with a team comprised of John Sabetti (Lead – Corporate Finance), Taisha Lewis and Zach Austin (Corporate Finance) and Mitchell Thaw (Tax)