**NOT FOR RELEASE OR
DISTRIBUTION IN THE UNITED
STATES**
LAVAL, QC,
June 15, 2017 /CNW
Telbec/ - Prometic Life Sciences Inc. (TSX: PLI)
(OTCQX: PFSCF) ("Prometic" or the
"Corporation") announced today that it has entered into an
agreement with Cantor Fitzgerald Canada Corporation as a lead
underwriter and sole bookrunner, on its own behalf and on behalf of
a syndicate of underwriters (collectively, the "Underwriters")
under which the Underwriters have agreed to buy on a bought deal
basis, 31,250,000 common shares (the "Common Shares") in the
capital of the Corporation at a price of $1,70 per share for gross proceeds of
$53,125,000 (the
"Offering").
Prometic has also granted the Underwriters an option to
purchase an additional 4,687,500 Common Shares at the same offering
price for a period of 30 days following the closing of the Offering
(the "Over-Allotment Option"). If the Over-Allotment Option is
exercised in full, the total gross proceeds of the Offering will be
$61,093,750. In consideration for the
services to be rendered by the Underwriters under the Offering, the
Underwriters will receive a cash commission equal to 6% of the
gross proceeds raised under the Offering (inclusive of the
Over-Allotment Option).
In connection with the Offering, Prometic will file a
preliminary short form prospectus (the "Prospectus") in all
Canadian provinces on or about June 21,
2017. The net proceeds to the Corporation from the Offering
will be used for: 1) the completion of the sales and marketing
infrastructure necessary for the commercialization of plasminogen
and IVIG, 2) the advancement of new clinical indications for
plasminogen including wound healing, tympanic repairs and severe
burns, 3) the advancement of pivotal clinical programs relating to
the Corporation's orally active anti-fibrotic drug candidate
PBI-4050 such as idiopathic pulmonary fibrosis and chronic kidney
diseases, 4) the scale-up of PBI-4050 follow-on drug candidates and
their advancement into clinical trial stages and 5) the expansion
of plasma collection and processing capabilities related to the
plasma derived therapeutics. These initiatives, as well as
providing additional working capital will allow the Corporation to
continue to exercise greater control and ownership over its
proprietary technological platforms, therefore providing an
opportunity to retain a greater portion of the associated value for
its shareholders.
Closing of the Offering is subject to certain conditions
including, but not limited to, receipt of all necessary regulatory
and stock exchange approvals, including the receipt of listing
approval by the Toronto Stock Exchange ("TSX") for the Common
Shares. The Offering is expected to close on or about July 6, 2017. For more information, potential
investors should read the Prospectus, including the "Risk Factors"
section. A copy of the Prospectus will be available on SEDAR
(www.sedar.com).
The securities offered have not and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any U.S. state securities laws and may
not be offered or sold, directly or indirectly, within the United States or to or for the account of
any U.S. person (as defined in Regulation S under the U.S.
Securities Act) other than under an available exemption from the
registration requirements of the U.S. Securities Act. This press
release does not constitute an offer to sell or a solicitation of
an offer to buy any such securities within the United States or to or for the account of
any U.S. person.
About Prometic Life Sciences Inc.
Prometic Life Sciences Inc.
(www.prometic.com) is a long established
biopharmaceutical company with globally recognized expertise in
bioseparations, plasma-derived therapeutics and small-molecule drug
development. Prometic is active in developing its own novel
small-molecule therapeutic products targeting unmet medical needs
in the field of fibrosis, cancer and autoimmune
diseases/inflammation. A number of plasma-derived and small
molecule products are under development for orphan drug
indications. Prometic also offers its state of the art technologies
for large-scale purification of biologics, drug development,
proteomics and the elimination of pathogens to a growing base of
industry leaders and uses its own affinity technology that provides
for highly efficient extraction and purification of therapeutic
proteins from human plasma in order to develop best-in-class
therapeutics and orphan drugs. Headquartered in Laval (Canada), Prometic has R&D facilities
in the UK, the U.S. and Canada, manufacturing facilities in the UK
and commercial activities in the U.S., Canada, Europe, Russia, Australia and Asia.
Forward Looking Statements
This press release contains forward-looking statements
about Prometic's objectives, strategies and businesses that involve
risks and uncertainties. These statements are "forward-looking"
because they are based on our current expectations about the
markets we operate in and on various estimates and assumptions.
Actual events or results may differ materially from those
anticipated in these forward-looking statements if known or unknown
risks affect our business, or if our estimates or assumptions turn
out to be inaccurate. Such risks and assumptions include, but are
not limited to, Prometic's ability to develop, manufacture, and
successfully commercialize value-added pharmaceutical products, the
availability of funds and resources to pursue R&D projects, the
successful and timely completion of clinical studies, the ability
of Prometic to take advantage of business opportunities in the
pharmaceutical industry, uncertainties related to the regulatory
process and general changes in economic conditions. You will find a
more detailed assessment of the risks that could cause actual
events or results to materially differ from our current
expectations in Prometic's Annual Information Form for the year
ended December 31, 2016, under the
heading "Risk and Uncertainties related to Prometic's
business". As a result, we cannot guarantee that any
forward-looking statement will materialize. We assume no obligation
to update any forward-looking statement even if new information
becomes available, as a result of future events or for any other
reason, unless required by applicable securities laws and
regulations. All amounts are in Canadian dollars unless
indicated otherwise.
SOURCE ProMetic Life Sciences Inc.