Stem Cell Therapeutics Corp. Announces Details of Early Exercise Warrant Incentive Program
09 July 2009 - 4:02AM
Marketwired
Stem Cell Therapeutics Corp. ("SCT" or the "Company") (TSX VENTURE:
SSS) is pleased to announce the early warrant exercise incentive
program (the "Program") that was proposed on July 2, 2009, has been
approved by TSX Venture Exchange ("TSXV"). The Program will be open
for a 30 day period commencing today and ending on August 7, 2009
(the "Early Warrant Exercise Period"). This Program is designed to
encourage the early exercise of up to 17,250,000 outstanding share
purchase warrants (the "Warrants") for gross proceeds of up to
$2,760,000.
The Program is applicable to all holders of warrants issued in
connection with the Company's financing completed on November 9,
2007. The warrants have an original exercise price of $0.50 per
Warrant and expire on May 9, 2010. Holders of Warrants may exercise
their Warrants at a discounted price of $0.16 per Warrant during
the Early Warrant Exercise Period. Following the early Warrant
Exercise Period, the outstanding Warrants will revert back to being
exercisable to acquire common shares of the Company at a price of
$0.50 per share.
The terms and conditions of the Program and the method of
exercising Warrants pursuant to the Program will be set forth in a
formal Notice, which will be mailed to the registered address of
each warrantholder and posted on SEDAR. Any registered holders of
Warrants who have any questions or concerns with respect to the
Program are asked to contact Chloe Douglas-Crampton, Corporate
Secretary of the Company, at 403-245-5495, extension 221.
About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp.
is a Canadian public biotechnology company (TSX VENTURE: SSS)
focused on the development and commercialization of drug-based
therapies to treat central nervous system diseases. SCT is a leader
in the development of therapies that utilize drugs to stimulate a
patient's own resident stem cells. The Company's programs aim to
repair brain and nerve function lost due to disease or injury. The
Company's extensive patent portfolio of owned and licensed
intellectual property supports the potential expansion into future
clinical programs in numerous neurological diseases such as
traumatic brain injury, multiple sclerosis, Huntington's disease,
Alzheimer's disease, and ALS.
These securities have not been registered under the United
States Securities Act of 1933, as amended, or the securities laws
of any state, and may not be offered or sold within the United
States or to, or for the account or benefit of U.S. persons unless
an applicable exemption from U.S. registration requirements is
available.
Except for historical information, this press release may
contain forward-looking statements, which reflect the Company's
current expectation regarding future events. These forward-looking
statements involve risk and uncertainties, which may cause but are
not limited to, changing market conditions, the successful and
timely completion of clinical studies, the establishment of
corporate alliances, the impact of competitive products and
pricing, new product development, uncertainties related to the
regulatory approval process and other risks detailed from time to
time in the Company's ongoing quarterly and annual reporting.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Stem Cell Therapeutics Corp. Alan Moore, PhD President
and CEO (403) 245-5495 ext.224 Email: amoore@stemcellthera.com Stem
Cell Therapeutics Corp. Chloe Douglas-Crampton Investor Relations
(403) 245-5495 ext. 221 Email: crampton@stemcellthera.com Website:
www.stemcellthera.com
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