StimCell Energetics Inc. has entered into an advisory services agreement with Stonegate Capital Markets Inc., appointing the firm to assist with capital-raising and strategic transactions.
Under the agreement, effective Aug. 24, Stonegate will identify and introduce prospective investors and strategic counterparties to StimCell on a non-exclusive, best-efforts basis. The arrangement covers potential transactions involving assets, property, rights, debt, or equity securities, subject to StimCell’s approval of each engagement.
Stonegate will be compensated through a success-based advisory fee calculated as a percentage of gross proceeds from any completed transaction involving contacts introduced by the firm, payable upon closing. The agreement carries an initial three-month term and may be terminated by either party with 30 days’ written notice thereafter.
Securities offerings conducted through Stonegate’s capital-raising activities are expected to be structured under Rule 506(c) of Regulation D under the Securities Act of 1933, unless otherwise agreed in writing. StimCell remains responsible for filing Form D and applicable state blue-sky notices.
David Jeffs, chief executive of StimCell Energetics, said Stonegate’s experience introducing companies to institutional and strategic capital sources would help the firm evaluate opportunities to fund and advance its eBalance® technology.
StimCell, which trades on the OTCQB under the ticker STME, is a Vancouver-based biotech focused on developing therapeutic and non-therapeutic products intended to enhance cellular function and promote wellness. The company also announced earlier this year that Stonegate Capital Partners Inc. — a separate entity — would provide research coverage and institutional investor outreach.
No funding amount or valuation was disclosed in connection with the advisory engagement.
