Xortx Therapeutics prices 156,849 units at 73c in private placement

XORTX Therapeutics (XRTX) announces a non-brokered private placement to raise up to $114,500 through the issuance of up to 156,849 common share units of the Company at a price of $0.73 per unit. Each Unit will be comprised of one common share and one common share purchase warrant. Each Warrant will entitle the holder, on exercise, to purchase one additional common share in the capital of the Company, at a price of $1.20 per Warrant until the close of business on the day which is 60 months from the date of issuance of the Units, provided, however, that if the closing price of the common shares on the Nasdaq is greater than $2.00 for 10 or more consecutive trading days, the Warrants will be accelerated and the Warrants will expire on the 30th business day following the date of such notice. The closing date of the Offering is expected to occur on or about August 5, 2025, or such later date or dates as the Company may determine, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including approval from the TSX Venture Exchange. The Company intends to use the proceeds of the Offering for gout programs, general corporate and working capital purposes. All securities issued under the Offering will be subject to a four month and one day “hold period” under applicable Canadian securities legislation.