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The latest update is out from Element Nutritional Sciences Inc ( (TSE:MUSL) ).
Promino Nutritional Sciences Inc. has closed a private placement worth approximately $1.12 million, issuing 37.38 million units at $0.03 per unit, each comprising one common share and a warrant exercisable at $0.06 over 12 months, with related finder’s fees paid in cash and warrants. The financing, which increased AlphaNorth Partners Fund Inc.’s stake to about 10.71% of Promino’s outstanding shares, is intended to support inventory investment to accelerate growth and for general corporate purposes, signaling an effort to bolster the company’s balance sheet and scale its muscle health and sports nutrition product lines, with all new securities subject to a four-month hold period under applicable securities laws.
More about Element Nutritional Sciences Inc
Promino Nutritional Sciences Inc. is a Canadian innovation company focused on science-based, clinically proven nutrition for muscle health and recovery. Its flagship product, Rejuvenate Muscle Health™, is a clinically researched amino acid formula aimed at rebuilding and restoring muscle tissue, while its Promino™ line is NSF Certified for Sport® and endorsed by high-profile professional athletes, targeting both consumer and elite sports markets.
Average Trading Volume: 451,086
Technical Sentiment Signal: Sell
Current Market Cap: C$6.82M
For detailed information about MUSL stock, go to TipRanks’ Stock Analysis page.