Cynapsus Therapeutics Obtains Final Court Order and HSR Waiting Period Expires for Plan of Arrangement with Sunovion Pharmace...
October 18 2016 - 9:08AM
Cynapsus Therapeutics Inc. (“
Cynapsus”)
(NASDAQ:CYNA) (TSX:CTH), a specialty central nervous system
pharmaceutical company developing a fast-acting, easy-to-use,
sublingual thin film for the on-demand management of debilitating
OFF episodes associated with Parkinson’s disease
(“
PD”), is pleased to announce that it has
obtained a final order from the Ontario Superior Court of Justice
approving the previously announced plan of arrangement (the
“
Arrangement”) with Sunovion Pharmaceuticals Inc.
In addition, the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended, has expired with
respect to the Arrangement.
Receipt of the Final Order and the expiration of
the HSR waiting period satisfy two of the conditions to the closing
of the Arrangement, which remains subject to other customary
closing conditions. Cynapsus expects that the Arrangement will be
completed on or about October 21, 2016.
About Cynapsus
Cynapsus is a specialty central nervous system
pharmaceutical company that has been developing a fast-acting,
easy-to-use, sublingual thin film for the on-demand management of
debilitating OFF episodes associated with PD. For additional
company information, please visit www.cynapsus.ca.
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of applicable securities laws,
including, without limitation, Cynapsus’ expectation relating to
the closing date of the Arrangement. These forward-looking
statements include information about possible or assumed future
events or results of Cynapsus’ business, products, plans and
objectives. These forward-looking statements are based on current
expectations and beliefs and inherently involve significant risks
and uncertainties. Actual results and the timing of events could
differ from those anticipated in such forward-looking statements as
a result of risks and uncertainties, and include, but are not
limited to, the timing of the completion of the Arrangement, and
those factors identified under the caption “Risk Factors” in
Cynapsus’ Form 10-Q for the quarter ended June 30, 2016 filed with
the United States Securities and Exchange Commission (the
“SEC”) on August 10, 2016, and its other filings
and reports in the United States with the SEC available on the
SEC’s web site at www.sec.gov, and in Canada with the various
Canadian securities regulators, which are available online at
www.sedar.com. Furthermore, unless otherwise stated, the
forward-looking statements contained in this press release are made
as of the date of this press release, and Cynapsus has no intention
and undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, changes or otherwise, except as required by law.
Additional Information and Where to Find
It
Further information regarding the Arrangement is
contained in an information circular that Cynapsus has prepared and
mailed to its securityholders. Securityholders may obtain a copy of
the arrangement agreement, information circular and other related
materials at www.sec.gov and www.sedar.com.
This press release is for informational purposes
only. It does not constitute an offer to purchase securities of
Cynapsus or a solicitation or recommendation statement under the
rules and regulations of the SEC or other applicable United States
laws.
Contact Information
Company Contact:
Kristen Galfetti
Vice President, Investor Relations
(416) 703-2449 x246
kgalfetti@cynapsus.ca
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