/EINPresswire.com/ -- VANCOUVER, BC--(Marketwired - February 14, 2017) - LexaGene Holdings Inc. (TSX VENTURE: LXG) (the "Company"). LexaGene is pleased to announce it intends to complete a non-brokered private placement to raise up to $2,010,000 by the issuance of 6,700,000 units at $0.30 per unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire an additional common share for $0.60 per share for a three year period.

Finder's fees may be paid in accordance with regulatory policy. All shares issued in connection with the private placement are subject to a four month hold period.

The private placement is subject to regulatory approval. Proceeds from the private placement will be used to complete alpha prototype development as well as some additional corporate working capital.

ON BEHALF OF THE BOARD "Jack Regan"

Jack Regan, Chief Executive Officer and Director

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors -- including the availability of funds, the results of financing efforts, the success of technology development efforts, the cost to procure critical parts, performance of the instrument, market acceptance of the technology, regulatory acceptance, and licensing issues -- that could cause actual results to differ materially from the Company's expectations as disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.