BetterLife Pharma Inc.’s $2.9 Private Placement

Fasken advised Mackie Research Capital Corporation.

On December 2, 2020, BetterLife Pharma Inc., an emerging biotech company, closed its brokered private placement offering of special warrants, pursuant to which the company issued 5,889,735 special warrants at a price of $0.50 per special warrant, for aggregate gross proceeds of $2,944,867.50.

Each Special Warrant is exercisable, for no additional consideration, into one unit of the Company, with each Unit consisting of one common share of the Company and one Common Share purchase warrant. Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.60 per Warrant Share, for a period of 36 months after the closing of the Offering.

The offering was led by Mackie Research Capital Corporation, as lead agent and sole bookrunner, on behalf of a syndicate of agents that included Haywood Securities Inc.

BetterLife Pharma Inc. is an emerging biotechnology company engaged in the development and commercialization of therapeutic pharmaceuticals as well as drug delivery platform technologies.

Mackie Research Capital Corporation offers investment banking and securities brokerage services.

The Fasken team was led by John Sabetti (picture), and included Jordana Keslassy and Onyi Ubah.

Involved fees earner: Jordana Keslassy – Fasken Martineau; John Sabetti – Fasken Martineau; Onyi Ubah – Fasken Martineau;

Law Firms: Fasken Martineau;

Clients: Mackie Research Capital Corporation;


Author: Ambrogio Visconti