Artelo Biosciences Receives $3.0 Million in Net Proceeds from Exercise of Warrants
Retrieved on:
Monday, February 8, 2021
Existing investors agreed to exercise warrants for net proceeds of approximately $3 million.
Key Points:
- Existing investors agreed to exercise warrants for net proceeds of approximately $3 million.
- The proceeds from the exercise of these warrants strengthen our balance sheet and based on our most recently reported financial results as of November 30, 2020 bring our pro-forma cash balance to approximately $10.4 million, stated Gregory Gorgas, Artelos President and Chief Executive Officer.
- We intend to utilize this capital towards achieving milestones we believe have the potential to generate significant value for our shareholders.
- Artelo Biosciences, Inc. is a San Diego-based biopharmaceutical company dedicated to the development and commercialization of proprietary therapeutics targeting endogenous signaling pathways, including the endocannabinoid system.