07:06 AM EDT, 07/08/2024 (MT Newswires) -- Else Nutrition Holdings ( BABYF ) over the weekend said it raised US$2 million selling 13.2 million units at US$0.151 per unit.

Each unit consists of one Else Nutrition ( BABYF ) common share and one common share purchase warrant exercisable to acquire one common share at a price of US$0.151 until July 5, 2029.

Net proceeds will be used to fund research and development and sales and marketing, acquire inventory, and for general corporate purposes.

The company also intends to amend certain warrants issued in June 2022 and November 2023 to purchase up to a total of 15.9 million common shares.

The exercise price of the amended warrants will be reduced from C$0.485 to US$0.151 per common share and the expiry date will be extended from Nov. 21, 2028, to July 5, 2029. The amendments will be effective July 12.