The Offering was conducted by a syndicate of underwriters led by
Each Unit consists of one common share of the Company (each, a 'Unit Share') and one-half of one common share purchase warrant (each whole common share purchase warrant, a 'Warrant'). Each Warrant is exercisable into one common share of the Company at an exercise price of
The Company intends to use the net proceeds of the Offering for the advancement of the
The Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering and 1,891,980 compensation warrants ('Compensation Warrants'), each Compensation Warrant exercisable to acquire one common share of the Company at the Offering Price, for a period of 24 months from the closing of the Offering.
The securities issued pursuant to the Offering were qualified for distribution pursuant to a prospectus supplement dated
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer or sale would be unlawful. The Units, Shares and Warrants, as well as the Shares issuable upon exercise of the Warrants, have not been and will not be registered under the
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This news release may contain forward-looking statements and forward-looking information (together, 'forward-looking statements') within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as 'plans', 'expects', 'estimates', 'intends', 'anticipates', 'believes' or variations of such words, or statements that certain actions, events or results 'may', 'could', 'would', 'might', 'occur' or 'be achieved'. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for
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