Monthly Archives: January 2019

Juvenescence Ltd raised US$46mln in funding

Investment company FastForward Innovations Ltd announced that its investee, BVI-based biotech firm Juvenescence Ltd, has completed the first part of its funding round, having raised US46mln at US$24.70 per share. In total, the BVI company plans to raise between US$100mln to US$125mln.

FastForward Chief Executive Lorne Abony said: “We are delighted with the progress Juvenescence is making with the pipeline of drugs, therapies and technologies they are developing. Having spent time with the company’s management in the past few weeks in San Francisco I share their optimism in relation to near-term potential of the company… The successful initial public offer of Age-X Therapeutics in which Juvenescence has a 46% interest, is a great example of the expertise Juvenescence brings to drug development companies.”

The price of the Series B funding values Juvenescence at US$400mln, which is 58% premium to the price at which FastForward invested in the company’s Series A funding.

Aura Minerals announced completion of share consolidation

BVI-registered mining company Aura Minerals Inc. completed the previously announced consolidation of its common shares, on the basis of one new share for ten old shares. The consolidation is effective from December 31, 2018, and common shares will begin trading on the TSX Exchange on January 7, 2019.

As a result, the number of issued and outstanding shares will be reduced from 43,377,336 to 4,337,733, while shareholder’s percentage ownership and proportional voting power will remain the same, except for minor changes and adjustments made due to the treatment of fractional shares.

Registered shareholders of the BVI company will receive letter of transmittal from the Aura’s transfer agent, which will enable registered shareholders to exchange their old share certificates representing pre-consolidation shares for post-consolidation shares.