The North American biopharmaceutical firm Lobe Sciences Ltd (OTCMKTS:LOBEF) could well be a company worth tracking at this point in time. It is a company that is involved in the development and discovery of psychedelic-based medications for brain and neurological conditions.
Lobe Sciences, Ltd. Announces USD$250,000 Convertible Note Financing and Warrant Issuance
It was in the news this past Friday after it announced that it had managed to secure financing to the tune of as much as $250000. It goes without saying that the news of fresh financing was a major development for the company and it would be interesting to see if it has any major impact on the stock this week or not.
The investment that is going to be made into Lobe Sciences is going to be in the form of a convertible note and would bear the face value of $250000. The note is going to carry an annual interest rate of 11%. The note is going to mature next year on January 31.
The company is not going to have to pay any finder’s fee in relation to the offering. It was also announced by Lobe Sciences that the proceeds from the note are going to be deployed towards the repayment of existing debt and for general working capital needs.
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