Aion Therapeutic Inc. (CNSX:AION) announced that it has received a non-brokered private placement of 16,994,475 units of the company at a price of CAD 0.0875 per unit to raise gross proceeds of CAD 1,487,016.56 on June 11, 2021. Each unit consists of one common share in the capital of the company and one half of one common share purchase warrant. Each warrant will entitle the holder, on exercise thereof, to purchase one additional common share at a price of CAD 0.15 for a period of 24 months from the closing of the transaction. The company has the right to accelerate the expiry date to be thirty days following written notice to the holders, if during the term of the warrants the common shares close at or above CAD 0.20 per common share on each trading day for a period of ten consecutive trading days on the Canadian Securities Exchange. The closing of the transaction is subject to all necessary regulatory approvals including acceptance from the TSX Venture Exchange. The company paid finder’s fees of CAD 20,874.24, in cash and 238,562 broker warrants. Each broker warrant entitles the holder thereof to acquire one common share at an exercise price of CAD 0.15 per Common Share for a period of twenty-four months from the closing of the offering and subject to the acceleration provisions. All securities issued will be subject to a four-month plus one day hold period from the closing date under applicable Canadian securities laws.