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MetaStat raises $2.4M via private placement

MetaStat Inc. closed its private placement with a number of institutional and accredited investors to raise net proceeds of about $2.4 million.

Pursuant to all closings in the private placement, the company issued 623,696 common shares, 187,462 additional shares, about 229,363 preferred shares convertible into 2,293,632 conversion shares and repriced an aggregate of 524,850 warrants in connection with the warrant adjustment for a purchase price of about $2.6 million.