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Principal will be convertible at the option of the holder into common shares of the Corporation at a conversion price of
The Debentures and the common shares issuable upon the conversion of the Debentures will be subject to a four month hold period. Completion of the offering is subject to the final approval of the
100% of the Net Proceeds are expected to be used to fund the Corporation’s first in-human clinical trials and for ongoing research and development. Although the Corporation intends to use the proceeds of the offering as described above, the actual allocation of proceeds may vary from the uses set out above, depending upon future operations, events or opportunities.
“Funds from this offering will be used to expedite our first in-human trials in the
About
FOR FURTHER INFORMATION, PLEASE CONTACT:
Dean Burns
President and CEO Director
(817) 874-7564 (778) 347-2500
Neither the
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the completion of the financing and the commencement, timing and scope of the clinical trial program outlined above and that such program will be conducted as expected. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to: operational matters, historical trends, current conditions and expected future developments, access to financing as well as other considerations that are believed to be appropriate in the circumstances. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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