Pacgen Life Science Corporation (TSXV:PBS) announced a non-brokered private placement of up to 5,300,000 units at CAD 0.06 per unit for gross proceeds of up to CAD 318,000 on January 19, 2016. Each unit consists of one common share and one-half share purchase warrant. Each whole warrant entitles the holder to acquire one common share of the company at CAD 0.08 per share for a period of two years from the date of closing.

The transaction will include participation from directors of the company for CAD 248,000. The securities issued are subject to four month hold period. The transaction is subject to TSX Venture Exchange approval.