Peterson Law acts as Securities Counsel to Annidis Corporation as it closes its $5 Million Private Placement
On October 4, 2013, Annidis Corporation (“Annidis”) completed a $5,000,000 private placement (the “Financing”) of common shares (“Shares”) to Yimai Technology International Company Limited (“Yimai”), a strategic investor from Hong Kong. The Financing consisted of the issuance of an aggregate of 27,965,379 Shares to Yimai, of which 7,132,046 Shares will be held in escrow and only released to Yimai upon the occurrence of certain events. Upon the completion of the Financing and excluding the Shares held in escrow, Yimai acquired 20,833,333 Shares at a price of $0.24 per Share, resulting in an approximate 23.48% ownership interest in Annidis.
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