/EINPresswire.com/ -- MONTREAL, QUEBEC--(Marketwired - Aug 24, 2017) - Woden Venture Capital Corporation ("Woden") (NEX:WOD.H) is pleased to announce the closing as of this day of the preliminary private placement of a gross proceed of $225,000, as previously announced by press release on July 28, 2017. This financing will be used for the purpose of funding the costs associated with proceeding to completion of the proposed qualifying transaction with ACCUM Therapeutics.

The placement consists in the issuance of 4,500,000 Class A common shares of the capital stock of Woden at subscription price of $0.05 each. The Common Shares are subject to a resale restriction period of four months and one day.

The whole is subject to the Exchange's and regulatory authorities' approvals.

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

Neither the TSX Venture Exchange/NEX nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange/NEX) accepts responsibility for the adequacy or accuracy of this news release.