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Los Angelas, CA -- (SBWIRE) -- 01/22/2014 -- Hotpennystocknews.com issues special report on - iCo Therapeutics (ICOTF),Western Lithium (OTCMKTS:WLCDF)
iCo Therapeutics (ICOTF) in-licenses and redefines existing drug candidates or generics by employing reformulation and delivery technologies for new or expanded use indications. The Company has exclusive worldwide rights to two drug candidates - iCo-007 for Diabetic Macular Edema (DME) and iCo-008 for other sight-threatening diseases. iCo-007 is in Phase 2 clinical studies for DME. With Phase 2 clinical history, iCo-008 is targeted for the treatment of keratoconjunctivitis and wet age-related macular degeneration. In addition, iCo holds worldwide rights to an oral drug delivery platform. The first platform candidate is the Oral Amp B Delivery system, utilizing a known anti-fungal drug to treat life-threatening infectious diseases. iCo trades on the TSX Venture Exchange under the symbol "ICO" and the OTCQX under the symbol "ICOTF".
iCo Therapeutics Inc. ("iCo" or the "Company") (TSX-V: ICO) (OTCQX: ICOTF) is pleased to announce today that the Company has priced its previously announced overnight marketed offering of equity securities (the "Offering"). Pursuant to the Offering, iCo will issue an aggregate of up to 16,206,483 units of the Company ("Units") at a price of C$0.4165 per Unit for aggregate gross proceeds of approximately C$6.75 million. Each Unit is comprised of one common share of the Company (a "Common Share") and three-quarter of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable at a price of C$0.539 and entitles the holder thereof to acquire one common share of the Company (a "Warrant Share") for a period of five years following the closing of the Offering.
The Company has entered into an agency agreement with Euro Pacific Canada Inc. in respect of sales under the Offering, with H.C. Wainwright & Co., LLC being part of the selling group. H.C. Wainwright & Co., LLC acted as lead U.S. placement agent. The selling group will be paid a cash commission equal to 7.0% of the gross proceeds of the Offering (except in respect of Units issued to certain specified purchasers, in which case the cash commission will be reduced to 3.5% or 2%, depending on the purchaser).
The Company intends to use the net proceeds of the Offering to finance the iDEAL Study and for general and administrative expenses.
Do you think now is a good time to buy or sell ICOTF? See ICOTF earnings forecast report Here.
Western Lithium (OTCMKTS:WLCDF) is developing its Kings Valley, Nevada lithium deposit into potentially one of the world's largest strategic, scalable and reliable sources of high quality lithium carbonate. The Company is positioning itself as a major U.S.-based supplier to support the rising global demand for lithium carbonate that is expected from the increased use of hybrid/electric vehicles.
WLCDF is -0.0104 - -3.73% from the previous close of $0.2785. It traded between $0.2664 - 0.2813 with total traded volume of 6600 shares. Keep a close eye on WLCDF, as the stock has been showing unusual moves over the past weeks. At Current market price, WLCDF has recovered +106.23% from its 52-week Low of 0.13 and has Pulled back -39.07% from its 52-week high of 0.44.
How Should Traders Business WLCDF After The Latest Unpredictable Moves? Discover Out Here.
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