By a News Reporter-Staff News Editor at Pharma Business Week -- Rafarma Pharmaceuticals (OTC:RAFA), announces a $1.2 million private placement (see also Rafarma Pharmaceuticals, Inc. ). A $1.2 million private placement has been closed with a share price of $0.65 per share. Proceeds from this private placement are being applied to company expansion and to reduce commercial debt. Stated CEO Dave Anderson : "As Rafarma continues to develop new manufacturing partners, we anticipate that this private placement is just the beginning of a vibrant private financing market for the pharmaceutical sector. We are pleased with the investor enthusiasm in Rafarma's potential." The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. The securities were offered only to accredited investors. Keywords for this news article include: Rafarma Pharmaceuticals Inc. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2013, NewsRx LLC
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