Biomark Diagnostics Inc announced closing of a non-brokered private placement of 5,062,000 units at a price of CAD 0.25 per unit for gross proceeds of CAD 1,265,500 on May 4, 2022. Each unit consists of one common share and one-full purchase warrant. Each whole warrant will entitle the holder to acquire one common share at an exercise price of CAD 0.45 per share for a period of two years from the closing date of the private placement, subject to an acceleration clause.

The securities issued under the transaction will be subject to a hold period of four months and one day. The transaction included participation from certain insiders, directors and officers.