CALGARY, Alberta-Cell-Loc Inc. has filed a preliminary prospectus for an offering of subscription rights under a facility that could provide the company proceeds up to $40 million.
The company will be able to draw down on the facility several times over a 24-month period, in return for an issuance of Cell-Loc common shares.
Cell-Loc said it will use the proceeds for working capital, commercialization, capital expenditures and general corporate purposes.
