IntelGenx Technologies Corp. (TSXV: IGX) (OTCQX: IGXT) (the
“
Company” or “
IntelGenx”) is
pleased to announce that it has filed a preliminary short form
prospectus (the “
Prospectus”) with respect to an
offering (the “
Offering”) of units
(“
Units”) for a minimum of Cdn$4,000,000 and a
maximum of Cdn$10,000,000 aggregate gross proceeds. Each Unit will
consist of one share (an “
Offered Share”) of the
common stock of the Company (“
Common Stock”) and
one half of one common stock purchase warrant (each whole common
stock purchase warrant, a “
Warrant”). Each Warrant
will entitle the holder to purchase one share of Common Stock (a
“
Warrant Share”). Concurrently with the filing of
the Prospectus, the Corporation has filed a registration statement
on Form S-1 (the “
Registration Statement”) with
the United States Securities and Exchange Commission (the
“
SEC”) to register the Units and the Warrant
Shares.
The Offering is being conducted on a
commercially reasonable best efforts basis by Echelon Wealth
Partners Inc. (the “Agent”) in the provinces of
British Columbia, Alberta, Manitoba and Ontario. Final pricing of
the Units (the “Offering Price”), the Warrant
exercise price and term, and the determination of the number of
Units to be sold pursuant to the Offering will be determined in the
context of the market prior to the filing of the final short form
prospectus in respect of the Offering.
The Company has granted to the Agent an option
to increase the size of the Offering by up to 15%, exercisable in
whole or in part at any time for a period of 30 days after and
including the closing date of the Offering.
The net proceeds from the Offering will be used
for the Company’s Phase 2A Montelukast Study, general working
capital requirements, and, depending on the size of the offering,
expansion of the Company’s manufacturing facility.
The Company will apply to list the Offered
Shares and the Warrant Shares underlying the Units on the TSX
Venture Exchange (the “TSXV”). There is no
established trading market for the Warrants and IntelGenx does not
expect a market to develop. A copy of the Prospectus is available
under the Corporation’s profile at www.sedar.com and a copy of the
Registration Statement can be obtained from the SEC’s website at
www.sec.gov or by request to Echelon Wealth Partners Inc. at
ecm@echelonpartners.com. The Offering is subject to certain
customary conditions including, but not limited to, the receipt of
all necessary approvals, including the approval of the TSXV and the
SEC declaring the Registration Statement effective.
A registration statement relating to these
securities has been filed with the SEC but has not yet become
effective. These securities may not be sold nor may offers to buy
be accepted prior to the time the registration statement becomes
effective. No offer to buy the securities can be accepted and no
part of the purchase price can be received until the registration
statement has become effective, and any such offer may be withdrawn
or revoked, without obligation or commitment of any kind, at any
time prior to notice of its acceptance given after the effective
date.
About IntelGenx
IntelGenx is a drug delivery company focused on
the development and manufacturing of pharmaceutical films.
IntelGenx’s film technologies, including
VersaFilm®, VetaFilm™ and transdermal, allow pharmaceutical
products that address unmet medical needs. IntelGenx’s product
pipeline offer benefits to patients and physicians for many
therapeutic conditions.
IntelGenx's team provides pharmaceuticals
services to pharmaceutical partners, including R&D, analytical
method development, clinical monitoring, IP and regulatory
services. IntelGenx's manufacturing facility offers full service by
providing lab-scale to pilot- and commercial-scale production.
Forward-Looking Information and
Statements
This document may contain forward-looking
information or forward-looking statements within the meaning of
applicable U.S. and Canadian securities laws. These statements are
statements that are not purely historical. All forward-looking
statements are expressly qualified in their entirety by this
cautionary statement. These statements are statements that are not
purely historical and include, but are not limited to, statements
about the completion of the Offering, the use of the Offering
proceeds, IntelGenx's plans, objectives, expectations, strategies,
intentions or other characterizations of future events or
circumstances and are generally identified by the words “may”,
“expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”,
“estimates”, “could”, “would”, and similar expressions. These
forward-looking statements include statements regarding the terms
of the Offering, the use of proceeds, the listing of the Offered
Shares and Warrant Shares on the TSXV, the declaration of the
effectiveness of the Registration Statement, and the timing for
closing of the Offering. All forward looking statements are
expressly qualified in their entirety by this cautionary statement.
Because these forward-looking statements are subject to a number of
risks and uncertainties, IntelGenx's actual results could differ
materially from those expressed or implied by these forward looking
statements. Factors that could cause or contribute to such
differences include, but are not limited to, those discussed under
the heading “Risk Factors” in the Registration Statement and
IntelGenx's annual report on Form 10-K, filed with the United
States Securities and Exchange Commission and available at
www.sec.gov, and also filed with Canadian securities regulatory
authorities and www.sedar.com. The Company does not undertake any
obligation to update or revise any Forward-Looking Information,
whether as a result of events or circumstances occurring after the
date of this press release, unless so required by legislation.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
No securities regulatory authority has either
approved or disapproved of the contents of this press release. This
press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities of the Company in
any jurisdiction in which such offer or solicitation of sale would
be unlawful.
For more information, please
contact:
Stephen KilmerInvestor Relations(514) 331-7440
ext 232 stephen@intelgenx.com
OR
Andre Godin, CPA, CAPresident and CFOIntelGenx
Technologies Corp.(514) 331-7440 ext 203andre@intelgenx.com
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