Pharmiweb ChannelsAll | PharmaCo | Clinical Research | R&D/BioTech | Sales/Mktg | Healthcare | Recruitment | Pharmacy | Medical Comms

Pharmiweb.com RSS Feed Pharmiweb.com RSS Feeds

Pharmiweb.com RSS Feed PharmiWeb Candidate Blog

Pharmiweb.com RSS Feed PharmiWeb Client Blog

Advertising

Press Release

Zomedica Raises Over C$5.0 Million in First Tranche Closing of Equity Financing

Zomedica Pharmaceuticals
Posted on: 27 Aug 16

ANN ARBOR, Mich., August 25, 2016 (GLOBE NEWSWIRE) – Zomedica Pharmaceuticals Corp. (TSX-V: ZOM), a veterinary pharmaceutical company, today announced the closing of the first tranche of its recently announced non-brokered private placement offering of up to 10,000,000 common shares (each a “Common Share”) at a price of C$1.50 per Common Share.

An aggregate of 3,342,480 Common Shares have been issued for aggregate gross proceeds of approximately C$5,013,734. All of the Common Shares issued in connection with this financing are subject to a statutory four-month hold period in accordance with applicable securities laws, which will expire on December 26, 2016.

The balance of the offering (for aggregate gross proceeds of up to C$15 million) remains ongoing, with additional tranches expected to be completed upon receipt of subscription materials and subscription funds.

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 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 Zomedica
With U.S. operations based in Ann Arbor, Michigan, Zomedica is a veterinary pharmaceutical company targeting health and wellness solutions for companion animals (canine, feline and equine) through a ground-breaking approach that focuses on the unmet needs of clinical veterinarians. Zomedica is building a diversified portfolio of products comprised of the discovery, development and commercialization of innovative drugs alongside novel drug delivery systems, devices and diagnostics. With multiple clinical veterinarians in executive management, it is Zomedica’s mission to give veterinarians the opportunity to lower costs, increase productivity, and grow revenue while better serving the animals in their care. For more information, visit www.ZOMEDICA.com.

Follow Zomedica
* Email Alerts: sign up for investor, product and service alerts at www.ZOMEDICA.com
* LinkedIn: www.linkedin.com/company/zomedica

Reader Advisory
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, the intended use of proceeds and the potential closing of additional tranches under the offering. 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
srampertab@zomedica.com
+1 647.283.3630

Media Contact
Andrea Eberle
aeberle@zomedica.com
+1 734.369.2555

For more information:
www.zomedica.com/news/zomedica-raises-c5-0-million-first-tranche-closing-equity-financing

Editor's Details

Mike Wood
PharmiWeb.com
www.pharmiweb.com
editor@pharmiweb.com

Last updated on: 27/08/2016

Advertising
Share | | |
Site Map | Privacy & Security | Cookies | Terms and Conditions

PharmiWeb.com is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on PharmiWeb.com is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.