08:05 AM EST, 02/04/2025 (MT Newswires) -- Microbix Biosystems ( MBXBF ) on Tuesday said it has received $2.4 million from the partial exercise of expiring share purchase warrants.

The warrants were issued in connection with a Jan. 2020 private placement and had an exercise price of $0.36. A total of 6.7 million of the remaining 8.9 million warrants were exercised in this round. The remaining 1.45 million 2020 warrants were exercised by insiders, the company said.

Microbix intends to use the proceeds to broaden its product development capabilities.

There are no further Microbix warrants outstanding following the expiry of this series.

Mirobix was last seen up US$0.60, to US$11.09, in New York trading.