PixarBio Corporation (OTCPK:PXRB) announced a private placement of 740,740 common shares at a price of $2.25 per share for gross proceeds of $1,666,665 on January 23, 2017. The company will also issue 740,740 warrants in the transaction. Each warrant will be exercisable into one common share at an exercise price of $4.50 per share for a period of seven years. The company will issue securities pursuant to exemption provided under Regulation D. The minimum investment accepted from any outside investor will be $100,000. On the same date, the company announced that it has received $300,000 in its first tranche closing. The company issued 133,334 shares and 133,334 warrants to an accredited investor in this tranche.