/NOT FOR DISTRIBUTION OR DISSEMINATION INTO
THE UNITED STATES OR THROUGH U.S.
NEWSWIRE SERVICES/
VANCOUVER, March 3, 2017 /CNW/ - Aequus Pharmaceuticals
Inc. (TSX-V: AQS, OTCQB: AQSZF) ("Aequus" or the
"Company"), a specialty pharmaceutical company with a focus
on developing, advancing and promoting differentiated products,
announced today that it has entered into a revised agreement with
Canaccord Genuity Corp., to increase the size of the Company's
previously announced bought deal of Units from C$3.0 million to C$4.5
million (the "Offering").
In addition, the Company has granted the Underwriter an option
(the "Over-Allotment Option"), to purchase up to 2,250,000
additional Units at the Offering Price for a period of 30 days
after and including the closing date. In the event that the option
is exercised in its entirety, the aggregate gross proceeds of the
Offering to the Company will be approximately $5.2 million.
Each Unit will be comprised of one common share of the Company
(a "Common Share") and one-half of one Common Share purchase
warrant (each whole Common Share purchase warrant, a "Warrant").
Each Warrant will be exercisable to acquire one Common Share (a
"Warrant Share") for a period of two years following the closing
date of the Offering at an exercise price of $0.45 per Warrant Share, subject to adjustment in
certain events. The Warrants will be subject to a forced exercise
provision if the Company's daily volume weighted average share
price on the TSX Venture Exchange (or such other stock exchange the
Company may be trading on) is greater than $0.80 for 15 consecutive trading days.
Net proceeds of the Offering will be used for the development of
the Company's drug pipeline and other general corporate
purposes. Closing of the Offering is expected to occur on or
about March 13, 2017.
The Units will be offered by way of a prospectus supplement and
an accompanying short form base shelf prospectus of the Company, in
the provinces of Alberta,
British Columbia, Saskatchewan, Manitoba and Ontario, and in the
United States by way of private placement to qualified
institutional investors and outside of Canada and the
United States on a private placement or equivalent
basis.
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, or applicable state securities
laws, and may not be offered or sold to persons in the United States absent registration or an
exemption from such registration requirements. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Aequus Pharmaceuticals
Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) is a
growing specialty pharmaceutical company focused on developing and
commercializing high quality, differentiated products. Aequus'
development stage pipeline includes several products in neurology
and psychiatry with a goal of addressing the need for improved
medication adherence through enhanced delivery systems. Aequus
intends to commercialize its internal programs in Canada alongside its current portfolio of
marketed established medicines and will look to form strategic
partnerships that would maximize the reach of its product
candidates worldwide. Aequus plans to build on its Canadian
commercial platform through the launch of additional products that
are either created internally or brought in through an acquisition
or license; remaining focused on highly specialized therapeutic
areas. For further information, please visit
www.aequuspharma.ca.
Forward-Looking Statements:
This release may contain forward-looking statements or
forward-looking information under applicable Canadian securities
legislation that may not be based on historical fact, including,
without limitation, statements containing the words "believe",
"may", "plan", "will", "estimate", "continue", "anticipate",
"intend", "expect", "potential" and similar expressions.
Forward-looking statements are necessarily based on estimates and
assumptions made by us in light of our experience and perception of
historical trends, current conditions and expected future
developments, as well as the factors we believe are appropriate.
Forward-looking statements in this release include but are not
limited to statements relating to: the Offering, including the use
of proceeds of the Offering, the proposed closing date of the
Offering and the successful completion of the Offering; and the
Company's intention to commercialize its internal programs in
Canada, form strategic
partnerships and build its Canadian commercial platform. Such
statements reflect our current views with respect to future events
and are subject to risks and uncertainties and are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by Aequus, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors could cause our
actual results, performance or achievements to be materially
different from any future results, performance, or achievements
that may be expressed or implied by such forward-looking
statements. In making the forward-looking statements included in
this release, the Company has made various material assumptions,
including, but not limited to: obtaining positive results of
clinical trials, obtaining regulatory approvals, general business
and economic conditions, the Company's ability to successfully
out-license or sell its current products and in-license and develop
new products, the assumption that the Company's current good
relationships with its manufacturer and other third parties will be
maintained, the availability of financing on reasonable terms, the
Company's ability to attract and retain skilled staff, market
competition, the products and technology offered by the Company's
competitors and the Company's ability to protect patents and
proprietary rights. In evaluating forward-looking statements,
current and prospective shareholders should specifically consider
various factors set out under the heading "Risk Factors" in the
Company's Annual Information Form dated April 29, 2016, a copy of which is available on
Aequus' profile on the SEDAR website at
www.sedar.com, and as otherwise disclosed from time to
time on Aequus' SEDAR profile. Should one or more of these risks or
uncertainties, or a risk that is not currently known to us
materialize, or should assumptions underlying those forward-looking
statements prove incorrect, actual results may vary materially from
those described herein. These forward-looking statements are made
as of the date of this release and we do not intend, and do not
assume any obligation, to update these forward-looking statements,
except as required by applicable securities laws. Investors are
cautioned that forward-looking statements are not guarantees of
future performance and are inherently uncertain. Accordingly,
investors are cautioned not to put undue reliance on
forward-looking statements. SEDAR profile. Should one or more of
these risks or uncertainties, or a risk that is not currently known
to us materialize, or should assumptions underlying those
forward-looking statements prove incorrect, actual results may vary
materially from those described herein. These forward-looking
statements are made as of the date of this release and we do not
intend, and do not assume any obligation, to update these
forward-looking statements, except as required by applicable
securities laws. Investors are cautioned that forward-looking
statements are not guarantees of future performance and are
inherently uncertain. Accordingly, investors are cautioned not to
put undue reliance on forward-looking statements.
Neither the 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.
SOURCE Aequus Pharmaceuticals Inc.