Pacgen Life Science Corporation (TSXV:PBS) announced a non-brokered private placement of 12,300,000 units at a price of CAD 0.06 per unit for gross proceeds of CAD 738,000 on January 11, 2018. The transaction involved participation from multiple investors including board of directors of the company for CAD 293,000. Individual investor, Rakesh Arya subscribed for 5,000,000 units representing a 7.71% stake in the company and joined the board of directors of the company, Christina Yip, director and officer of the company subscribed for 2,475,000 units. Each unit consists of one common share and one common share purchase warrant exercisable into an additional common share of the company at an exercise price of CAD 0.06 per share for a period of 2 years. The transaction has been approved by the TSX Venture Exchange, subject to satisfactory customary requirements. The securities issued in the transaction are subject to a hold period of four months.