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Hemostemix ( (TSE:HEM) ) has provided an announcement.
Hemostemix Inc. has increased its previously closed non-brokered private placement from $2,969,600 to $3,000,000, issuing an additional 3,000,000 units at $0.10 each. The proceeds will be used to repay debt at a discount and support operational expenses, including marketing and sales of VesCell. This transaction, involving directors Peter Lacey and Loran Swanberg, is classified as a related party transaction under MI 61-101, but the company is exempt from certain formal requirements due to the transaction’s value relative to its market capitalization. The expansion of the offering reflects strategic financial management and potential growth opportunities for Hemostemix.
Spark’s Take on TSE:HEM Stock
According to Spark, TipRanks’ AI Analyst, TSE:HEM is a Neutral.
Hemostemix’s stock is primarily hindered by its poor financial performance, characterized by no revenue and high leverage. The technical analysis points to positive momentum, but valuation concerns due to negative earnings are significant. The absence of earnings call data and impactful corporate events limits further insights.
To see Spark’s full report on TSE:HEM stock, click here.
More about Hemostemix
Hemostemix Inc. operates in the biotechnology industry, focusing on developing and commercializing innovative blood-derived therapies. The company is known for its product VesCell, which is aimed at treating cardiovascular diseases.
Average Trading Volume: 174,053
Technical Sentiment Signal: Sell
Current Market Cap: C$20.44M
See more data about HEM stock on TipRanks’ Stock Analysis page.