Rock Creek Pharmaceuticals, Inc. (OTCPK:RCPI) announced a private placement of 1,428,570 shares at $0.35 per share for gross proceeds of $500,000 with six accredited investors on March 30, 2016. The company entered into a securities purchase agreement with the investors. The company also issued warrants to purchase up to a total of 2,857,140 common shares of the company.

The warrants have an exercise price of $1.12 per share, are exercisable on March 30, 2023. The transaction included participation from six accredited investors. New investor, Scannell Robert, Director of the company subscribed to 285,714 shares and 571,428 warrants through IASO Advisors LLC.

The company issued securities pursuant to exemption provided under Regulation D. The company hired no broker for the transaction. Neither the company nor investor has incurred any obligation which will result in the obligation of another party to pay any finder's fee or commission in connection with the transaction. Each of the company and investor shall bear its own expenses in connection with the preparation and negotiation of the agreement.