Red Chip Features: Osteologix, Inc. (OLGX.OB), as Company Raises Five Million in Private Placement
Osteologix, Inc. (OLGX.OB) recently reported that it has closed a financing in which the company has sold common stock and warrants to purchase common stock to both new and existing investors for gross proceeds of $5,050,000. Under the terms of the purchase agreement, Osteologix issued 3,825,754 shares of common stock and 1,912,877 warrants to purchase common stock to the investors. The common stock was sold for a purchase price of $1.32 per share. The warrants have an exercise price of $1.20 per share and expire on August 31, 2008. "This financing, which we were able to complete at a premium to the…