REVISED DEAL INCLUDES INCREASE IN PREMIUM SHARE PRICE TO
PRIVATE PLACEMENT GROSS PROCEEDS OF UP TO $6
The Company now proposes to complete a non-brokered private placement (the "Private Placement") of common shares in the capital of the Company (the "Common Shares") for aggregate gross proceeds of up to
The Company is also pleased to announce that it has secured a lead order under the Private Placement from its co-Founder,
The proceeds of the Private Placement are expected to be used to advance Tryp's research and development programs and for general working capital purposes. The Common Shares to be issued pursuant to the Private Placement will be subject to a statutory hold period expiring four months and a day from the date of issuance, in accordance with applicable securities legislation. The Private Placement is expected to close in one or more tranches and remains subject to the approval of the Canadian Securities Exchange.
This press release is not an offer to sell or the solicitation of an offer to buy the securities in
About
Forward-Looking Information
Certain information in this news release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans," "targets," "expects" or "does not expect," "is expected," "an opportunity exists," "is positioned," "estimates," "intends," "assumes," "anticipates" or "does not anticipate" or "believes," or variations of such words and phrases or state that certain actions, events or results "may," "could," "would," "might," "will" or "will be taken," "occur" or "be achieved." In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Tryp as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the "Risk Factors" section of Tryp's final prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Tryp; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and Tryp expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE
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