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Devonian Health Group Secures $2.27 Million in Private Placement

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Devonian Health Group Secures $2.27 Million in Private Placement

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Devonian Health Group ( (TSE:GSD) ) just unveiled an update.

Devonian Health Group Inc. has successfully closed a non-brokered private placement, raising $2,272,999.85 through the issuance of units comprising shares and warrants. The funds will be used to support the company’s working capital and research and development activities. The offering is subject to final approval by the TSX Venture Exchange, and the issued securities are under a restricted hold period. This financial move is expected to bolster Devonian’s operational capabilities and enhance its position in the pharmaceutical industry.

More about Devonian Health Group

Devonian Health Group Inc. is a clinical stage pharmaceutical company based in Québec, Canada, focused on developing drugs for autoimmune inflammatory conditions such as ulcerative colitis and atopic dermatitis. The company leverages over 15 years of research and follows FDA guidelines for efficient drug development. Devonian also develops cosmeceutical products and operates a subsidiary, Altius Healthcare Inc., for pharmaceutical commercialization in Canada.

Average Trading Volume: 14,369

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$22.23M

See more data about GSD stock on TipRanks’ Stock Analysis page.

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