NOT FOR DISTRIBUTION OR DISSEMINATION INTO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
VANCOUVER, British Columbia, March 02, 2021 (GLOBE NEWSWIRE) -- Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF), a specialty pharmaceutical company with a focus on developing, advancing and promoting differentiated products is pleased to announce that it has elected to exercise its right under the terms of a warrant indenture dated August 6, 2020 (the “Warrant Indenture”) governing the common share purchase warrants of the Company issued on August 6, 2020 (the “Warrants”) to accelerate the expiry date of the Warrants.
Pursuant to the Warrant Indenture, the Company may accelerate the expiry of these Warrants at any time prior to 5:00pm PST on August 6, 2023 in the event the daily volume weighted average trading price (“VWAP”) of the common shares of the Company (“Common Shares”) on the TSX Venture Exchange exceeds $0.20 for at least 10 consecutive trading days by providing written notice to the warrantholders (the “Acceleration Notice”). The Warrants will, unless exercised, expire on the 30th day after the Company provides the Acceleration Notice.
As of the close of markets on March 2, 2021, the VWAP of the Common Shares had traded in excess of $0.20 for at least 10 consecutive trading days. Accordingly, Aequus has given notice to all registered warrant holders that the expiry date for the Warrants is accelerated to April 1, 2021.
As of March 2, 2021, a total of 14,156,250 Warrants have yet to be exercised. Each Warrant is exercisable to acquire one Common Share at an exercise price of $0.12. If all Warrants are exercised, proceeds to the Company will total $1,698,750.
About Aequus Pharmaceuticals Inc.
Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) is a growing specialty pharmaceutical company focused on developing and commercializing high quality, differentiated products. Aequus has grown its sales and marketing efforts to include several commercial products in ophthalmology and transplant. Aequus plans to build on its Canadian commercial platform through the launch of additional products that are either created internally or brought in through an acquisition or license; remaining focused on highly specialized therapeutic areas. For further information, please visit www.aequuspharma.ca.
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential” and similar expressions. Forward- looking statements are necessarily based on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. Forward-looking statements include but are not limited to statements relating to: the proceeds of the exercise of warrants pursuant to the warrant acceleration; the number of warrants to be exercised; the implementation of our business model and strategic plans; revenue growth trends into the future; expected timing for product launch; the Company’s expected revenues. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Aequus, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements. In making the forward looking statements included in this release, the Company has made various material assumptions, including, but not limited to: obtaining regulatory approvals; general business and economic conditions; the Company’s ability to successfully out license or sell its current products and in-license and develop new products; the assumption that the Company’s current good relationships with third parties will be maintained; the availability of financing on reasonable terms; the Company’s ability to attract and retain skilled staff; market competition; the products and technology offered by the Company’s competitors; and the Company’s ability to protect patents and proprietary rights. In evaluating forward looking statements, current and prospective shareholders should specifically consider various factors set out herein and under the heading “Risk Factors” in the Company’s Annual Information Form dated April 28, 2020, a copy of which is available on Aequus’ profile on the SEDAR website at www.sedar.com, and as otherwise disclosed from time to time on Aequus’ SEDAR profile. Should one or more of these risks or uncertainties, or a risk that is not currently known to us materialize, or should assumptions underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward looking statements.
Aequus Investor Relations
© 2021 GlobeNewswire, Inc. All Rights Reserved.