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Zomedica commences $10M private offering of common shares

Zomedica Pharmaceuticals Corp. began a private offering of its common shares to raise about $10 million in gross proceeds.

The offering is being made in the U.S. and Canada.

The Ann Arbor, Mich.-based veterinary diagnostic and pharmaceutical company is offering up to 4,651,162 common shares at $2.15 apiece.

Zomedica said it has sold 255,815 common shares for gross proceeds of $550,000 in the offering to date.

The company expects to close the offering in one or more tranches by June 28.

Zomedica intends to use the net proceeds for working capital and general corporate purposes, including the ongoing development of its product candidates.