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Integrity Applications raises $1M

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Integrity Applications raises $1M

Integrity Applications Inc. raised $1 million after issuing 1,000 units of the company to certain accredited investors.

Each unit consists of a series C preferred stock and two five-year share purchase warrants exercisable at $4.50 and $7.75 apiece, respectively.

The preferred stocks are convertible to an aggregate of 222,236 common shares while the warrants are exercisable for an aggregate of 444,472 common shares.