I just got some correspondance back from Paul Magoffin.
When asked about raising capital and whether Biogaia may be involved, he replied "The share placement is proceeding and should be completed this week or early next week. Yes it is still possible that Biogaia will inject further capital. They have agreed to participate in the placement but, towards the end of this month, will decide (we are told) on what their longer term strategy is to be.
Therefore it appears the additional cash is being raised through Tollhurst and maybe Biogaia. Any further news on Biogaia's involvement with PCC could be make or break for this company, as I can't imagine Tollhurst's clients wanting to prop it up for much longer.
PCC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
