In this InvestorIntel interview during PDAC 2023, Tracy Weslosky talks to Hemostemix Inc.’s (TSXV: HEM | OTCQB: HMTXF) Co-Founder, President, and CEO Thomas Smeenk about Hemostemix’s latest news release on offering up to 500, 5-year convertible debentures that will pay interest at 6% for US$35,000 each to raise up to US$17.5 million. Subject to patients’ compassionate exemption from regulatory approval, Thomas discusses how the debentures can be converted into an ACP-01 therapeutic production slot for the treatment of critical limb ischemia or end-stage heart failure, or converted into Hemostemix shares at the greater of $1.00 per share or the 10-day weighted average price on the day preceding conversion.
Thomas explains how Hemostemix’s ACP-01 can vastly improve the quality of life of patients suffering from end-stage critical limb ischemia and heart diseases. During the Phase II clinical trial, 43 of 46 (93.5%) ACP-01 recipients saved a limb from amputation. Thomas also provided a financing update as the company is offering 14 million common share units at $0.20 each with each unit consisting of one common share and one common share purchase warrant, exercisable at $0.65 per common share for a period of 24 months. Finally, Thomas outlined the company’s potential plan to spin out a company that is Phase 3 clinical trial ready and will be revenue-generating with dividend capabilities to return capital to shareholders.
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About Hemostemix Inc.
Hemostemix is an autologous stem cell therapy company, founded in 2003. A winner of the World Economic Forum Technology Pioneer Award, the Company has developed, patented, and is scaling a patient’s blood-based stem cell therapeutics platform that includes angiogenic cell precursors, neuronal cell precursors, and cardiomyocyte cell precursors.
To learn more about Hemostemix Inc., click here.
Disclaimer: Hemostemix Inc. is an advertorial member of InvestorIntel Corp.
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