MYnd Analytics Inc. sold and issued 160,000 common shares at $6.25 per share in a private placement to RSJ Investments SICAV AS, for gross cash proceeds of $1 million.
Under the March 20 subscription agreement, MYnd Analytics granted RSJ right of first refusal through June 30, 2018, to license or have distribution rights in Europe for any MYnd Analytics technology or intellectual property.
RSJ Investments, a greater-than-10% shareholder of MYnd Analytics, is acting on behalf of its sub-fund, the RSJ/Gradus fund.
Further, under a separate March 21 subscription agreement, MYnd Analytics sold and issued 40,000 common shares, priced at $6.25 per share, to John Pappajohn for gross proceeds of $250,000. Pappajohn is a director of and greater-than-10% shareholder of MYnd Analytics.