10:02 AM EDT, 06/05/2024 (MT Newswires) -- LSL Pharma Group ( LPGIF ) , a Canadian pharmaceutical company, said on Wednesday that it plans to raise $4.5 Million via a combination of private placements.

LSL intends to raise a maximum of $3 million via a non-brokered private placement financing of 7.5 million units; and is in talks with its creditors to settle debts in about 3.8 million units for up to $1.5 million.

Each unit to be issued under the financing and the units for debts will be priced at $0.40 apiece and will consist of one class A share of the company and one common share purchase warrant. Each warrant will allow the holder to buy one common share at $0.70 for 24 months following the closing of the financing.

The company, which fell near 5% yesterday, was down more than 3% on last look on Wednesday in Canada.

Price: 0.47, Change: -0.02, Percent Change: -3.09