MONTREAL, QUEBEC -Pediapharm inc. (The “Company” or “Pediapharm”) (TSX VENTURE: PDP) is pleased to announce that it has closed a brokered private placement of 14,705,883 units of the Company (the ” Units “) at a price of 0 , $ 34 for gross proceeds of $ 5,000,000 (the ” Offering “), all subscribed by 9346-4626 Quebec Inc., a private company carrying on business as Transican held by Mr. Gerard Leduc , A world-class pharmaceutical leader. Each unit consists of one (1) common share in the capital of the Company (a ” Common Share “) and one half (1/2) to purchase common shares of the Company (a ” good ” ). Each warrant gives the holder the right, Acquire one (1) common share at $ 0.51 per common share for a period of thirty-six (36) months from the date of issue. No commissions or fees, other than legal fees and filing fees, are payable in connection with this financing.
The net proceeds of the Offering will be used to generate potential new business opportunities and to accelerate the growth of the Company’s recently launched products, Rupall � and Otixal � .
Closing of the Offering is expected to occur on or about May 23, 2017, subject to certain conditions, including the receipt of all regulatory approvals on the TSX Venture Exchange.
Pediapharm is Canada’s only pediatric pharmaceutical company. Its mission is to market innovative pediatric products to improve the health and well-being of children in Canada. Since its inception in 2008, Pediapharm has entered into numerous commercial agreements with partners in Canada and other countries. His innovative product portfolio includes NYDA�, a revolutionary head lice treatment; EpiCeram (R), a non-steroidal cream for the treatment of eczema; The suspension of naproxen, used in the treatment of pain and inflammation caused by various conditions, including juvenile arthritis; Rupall � , an innovation in the medical treatment of allergies with a unique mode of action; Otixal � ear drops , which are the first and only products manufactured from a combination of antibiotics and steroids available in sterile unit doses without a preservative; As well as Cuvposa � , for severe sialorrhea, which is currently subject to approval by Health Canada.
This press release contains forward-looking statements and other statements that are not historical facts. These forward-looking statements are subject to known or unknown risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in the forward-looking statements and the results or events set forth in such forward-looking statements. Accordingly, investors are cautioned that they should not place undue reliance on these forward-looking statements.
Forward-looking statements in this press release are made as of the date of publication. Except as required by applicable law, the Company expressly disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Forward-looking information reflects the Company’s current expectations or beliefs based on information held to date and is based on various assumptions and is subject to risks and uncertainties described more fully on pages 35 to 41 of the Circular Of the management of Chelsea Acquisition Corporation dated November 12, 2013, which is available on SEDAR at www.sedar.com and other risks arising from the fact that it is a specialized pharmaceutical company.
Source: Pediapharm inc.