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LSL Pharma Group Inc ( (TSE:LSL) ) has provided an update.
LSL Pharma Group has closed a $10 million initial tranche of an upsized $12 million private placement of unsecured convertible debentures, strengthening its balance sheet and providing capital for strategic initiatives. The debentures, bearing 10% annual interest and convertible into common shares at $0.45, were placed through a brokered syndicate, with a director investing $4 million under related-party exemptions. A portion of the proceeds will fund the $5 million acquisition of all outstanding shares of Toronto-based Juno OTC Inc. from Juno Pharmaceuticals LP, through which LSL will gain legal ownership while the seller retains operational control and associated liabilities, signaling a targeted expansion in the over-the-counter segment without taking on Juno OTC’s existing obligations.
More about LSL Pharma Group Inc
LSL Pharma Group Inc. is a Canadian integrated pharmaceutical company listed on the TSX Venture Exchange, focused on developing, manufacturing and commercializing pharmaceutical products. The company operates across multiple segments of the drug value chain, with an emphasis on expanding its portfolio and presence in both prescription and over-the-counter markets in Canada.
Average Trading Volume: 68,591
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$43.64M
Learn more about LSL stock on TipRanks’ Stock Analysis page.