ProMIS Neurosciences, Inc. (TSX:PMN) announced that it has closed a private placement of 9,560,000 units at a price of CAD 0.23 per unit for gross proceeds of CAD 2,198,800 on January 23, 2019. Each unit consists of one common share and one share purchase warrant of the company. Each warrant entitles the holder to purchase one common share at an exercise price of CAD 0.48 per share for five years from the closing date of the transaction. The expiry date of the warrants is subject to acceleration such that if following the four month anniversary of the closing date, the twenty-day volume-weighted average trading price of the shares on the TSX is greater than CAD 1, or the company enters into a partnering deal within 18 months of the closing of the offering with minimum proceeds of CAD 5,000,000 and the 20 day volume-weighted average trading price is greater than CAD 0.48 at any time following the announcement of such a partnering deal, the company may accelerate the expiry date of the warrants by issuing a press release announcing the reduced warrant term whereupon the warrants will expire on a day that is not less than 30 calendar day after the date of such press release. The transaction included participation from three insiders of the company for 556,214 units. As a part of the transaction, the company paid fees of CAD 39,445 and issued 164,500 warrants to finders. The finders’ warrants will have the same terms as the warrants that form part of the offering. All securities issued in the transaction are subject to a hold period expiring on May 23, 2019. The transaction is subject to the approval of TSX Exchange. The company received $119,409 (CAD 158,753.13) pursuant to exemption provided under Regulation D from four investors.