12:01 PM EDT, 07/08/2024 (MT Newswires) -- Else Nutrition Holdings ( BABYF ) over the weekend said it raised US$2 million selling 13.2-million share units at US$0.151 per unit.

Each unit consists of a share and a five-year warrant to buy a second share for US$0.151 .

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 15.90-million warrants issued in June 2022 and November 2023. The exercise price of the warrants will be reduced from C$0.485 to US$0.151 per share and the expiry date will be extended from Nov. 21, 2028, to July 5, 2029. The amendments will be effective July 12.

Else Nutrition ( BABYF ) shares were last seen down $0.005 to $0.19 on the Toronto Stock Exchange.

Price: 0.19, Change: -0.01, Percent Change: -2.56