Zomedica Provides an Update on Equity Financing and Grants Stock Options
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
The Company today announces a new non-brokered private placement offering of up to 6,657,520 Common Shares at a price of
All of the Common Shares issued in connection with this financing will be subject to a statutory four-month hold period in accordance with applicable securities laws. This offering is subject to the approval of the TSX Venture Exchange. Closing of this private placement is expected to occur in one or more tranches.
Zomedica expects the proceeds raised under this financing to be used for the following purposes:
- Advancement and further development of its therapeutic pipeline;
- Potential acquisitions, furthering its intellectual property and associated protections;
- Capital markets activities and expenditures; and
- General working capital purposes.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to persons in
The Company also announces that, pursuant to its stock option plan, it has granted stock options to acquire up to an aggregate of 3,875,000 Common Shares, of which, 3,325,000 stock options were granted to certain directors and officers of the Company. Each of the stock options is exercisable for a two-year term expiring on
With U.S. operations based in
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Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to the potential aggregate proceeds to be raised under the offering and the intended use of proceeds. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to future clinical trials, regulatory approvals, safety and efficacy of our products, the use of our product, intellectual property protection and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Investor Relations Contact Shameze Rampertab, CPA, CA firstname.lastname@example.org +1 647.283.3630
Barry Mire, Renmark Financial Communications Inc.email@example.com +1 416.644.2020 or +1 514.939.3989 Media Contact Andrea Eberleaeberle@zomedica.com +1 734.369.2555