VG Life Sciences Inc. (OTCPK:VGLS) announced a private placement of 4,020,000 common shares at a price of $1.3 per share for gross proceeds of $5,226,000 on September 12, 2016. The transaction will include participation from new investor Alpha Holdings, Inc. (KOSDAQ:A117670). Pursuant to the transaction, the company has signed a contract with the investor, and the investor will acquire a stake of 16.736053% in the company.

The company's total number of issued shares is 20,000,000. The investment amount of $2,613,000 will be paid on September 13, 2016 and $2,613,000 will be paid on October 31, 2016. The transaction has been approved by the board of directors of the company.