LexaGene Provides Update on the Exercise of Warrants
March 17 2020 - 3:08PM
LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG) (the
“Company”), a biotechnology company that develops genetic analyzers
for rapid pathogen detection and other molecular markers, today
announces that it has received proceeds from the exercise of
warrants.
LexaGene is pleased to report that over the past 90 days the
Company has received CAD $2.8 million through the exercise of 4.3
million warrants. These proceeds will be applied to advancing the
Company’s commercial readiness.
Daryl Rebeck, LexaGene President comments, “We are very happy to
see these warrants being exercised and the continued support from
our shareholders, many of whom have been here since day one. In
current market conditions, this added capital is very beneficial as
it further strengthens our balance sheet and cash position as we
gear up for manufacturing.”
About LexaGene Holdings Inc.LexaGene is a
biotechnology company that develops genetic analyzers for pathogen
detection and other molecular markers for on-site rapid testing in
veterinary diagnostics, food safety and for use in open-access
markets such as clinical research, agricultural testing and
biodefense. End-users simply need to collect a sample, load it onto
the instrument with a sample preparation cartridge, enter sample ID
and press ‘go’. The LX Analyzer delivers excellent sensitivity,
specificity, and breadth of detection and can return results in
about 1 hour. The unique open-access feature is designed for custom
testing so that end-users can load their own real-time PCR assays
onto the instrument to target any genetic target of interest.
Media Contacts Nicole Ridgedale Director of
Corporate Marketing, LexaGene800.215.1824 ext
206nridgedale@lexagene.com
Investor Relations Jay AdelaarVice President of
Capital Markets, LexaGene800.215.1824 ext
207jadelaar@lexagene.com
The TSX Venture Exchange Inc. has in no way
passed upon the merits of the proposed transaction and has neither
approved nor disapproved the contents of this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release contains forward-looking information, which
involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current
expectation. Important factors -- including the availability of
funds, the results of financing efforts, the success of technology
development efforts, the cost to procure critical parts,
performance of the instrument, market acceptance of the technology,
regulatory acceptance, and licensing issues -- that could cause
actual results to differ materially from the Company's expectations
as disclosed in the Company's documents filed from time to time on
SEDAR (see www.sedar.com). Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The company disclaims
any intention or obligation, except to the extent required by law,
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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