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IntelGenx prices $10M offering to fund acquisition

IntelGenx Technologies Corp. priced an offering of 15,873,016 units at 63 cents each to raise funds for the acquisition of a pharmaceutical consulting firm.

Each unit is made up of a common share and a warrant to purchase an additional stock for 90 cents each.

The Canadian company will use the $10 million raised to buy Laboval Inc., with the rest of the proceeds earmarked for the development of its medicine Montelukast.

The offering is expected to close around March 26.