IntelGenx Announces Issuance of Shares in Payment of Interest on Outstanding Debentures
07 December 2019 - 12:00AM
IntelGenx Technologies Corp. (TSXV: IGX) (OTCQX: IGXT) (the
“
Company” or “
IntelGenx”)
announces that it intends to issue 415,178 common shares of the
Corporation (the “
Common Shares”) at a deemed
price of CAD $0.73 per Common Share in payment of an aggregate of
$303,080 in interest owing on the Corporation’s 8.00% convertible
unsecured subordinated debentures due June 30, 2020 (the
“
Debentures”).
Under the terms of the trust indenture governing
the Debentures (the “Indenture”), the Corporation
has the option to pay the semi-annual interest on the Debentures in
either cash or Common Shares, subject to customary conditions set
forth in the Indenture. The issuance of the Common Shares in
payment of interest on the Debentures is subject to the acceptance
by the TSX Venture Exchange Inc. The Common Shares issued in
payment of interest on the Debentures will be issued pursuant to
exemptions from the prospectus requirements of applicable
securities laws.
This press release does not constitute
an offer to sell, or a solicitation of an offer to buy, securities
in any jurisdiction where not permitted by law.
About IntelGenx
IntelGenx is a leading drug delivery company
focused on the development and manufacturing of pharmaceutical
films.
IntelGenx’s superior film technologies,
including VersaFilm®, VetaFilm™ and transdermal, allow for next
generation pharmaceutical products that address unmet medical
needs. IntelGenx’s innovative product pipeline offer significant
benefits to patients and physicians for many therapeutic
conditions.
IntelGenx's highly skilled team provides
comprehensive pharmaceuticals services to pharmaceutical partners,
including R&D, analytical method development, clinical
monitoring, IP and regulatory services. IntelGenx's
state-of-the-art manufacturing facility offers full service by
providing lab-scale to pilot- and commercial-scale production. For
more information, visit www.intelgenx.com.
Forward-Looking Information and
Statements
This document may contain forward-looking
information or forward-looking statements within the meaning of
applicable U.S. and Canadian securities laws. These statements are
statements that are not purely historical. No assurance can be
given that the issuance of the Common Shares in payment of interest
owing will be completed. All forward-looking statements are
expressly qualified in their entirety by this cautionary statement.
Because these forward-looking statements are subject to a number of
risks and uncertainties, IntelGenx's actual results could differ
materially from those expressed or implied by these forward-looking
statements.
Factors that could cause or contribute to such
differences include, but are not limited to, failure to obtain TSX
Venture Exchange acceptance of the issuance of the Common Shares in
payment of interest owing, failure to satisfy the conditions to
issuance provided for in the Indenture and those discussed under
the heading “Risk Factors” in the Registration Statement and in
IntelGenx's annual report on Form 10-K, filed with the United
States Securities and Exchange Commission and available at
www.sec.gov, and also filed with Canadian securities regulatory
authorities and www.sedar.com. IntelGenx assumes no obligation to
update any such forward-looking statements.
Although the Company believes that the
expectations and assumptions on which Forward-Looking Information
is based are reasonable, readers of this press release are
cautioned not to rely unduly on this Forward-Looking Information
since no assurance can be given that they will prove to be correct.
The Company does not undertake any obligation to update or revise
any Forward-Looking Information, whether as a result of events or
circumstances occurring after the date of this press release,
unless so required by legislation.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
No securities regulatory authority has either
approved or disapproved of the contents of this press release. This
press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities of the Company in
any jurisdiction in which such offer or solicitation of sale would
be unlawful.
For more information, please
contact:
Stephen KilmerInvestor Relations(514) 331-7440
ext 232 stephen@intelgenx.com
OR
Andre Godin, CPA, CAPresident and CFOIntelGenx
Technologies Corp.(514) 331-7440 ext 203andre@intelgenx.com
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