Acasti Pharma Announces Issuance of Common Shares in Payment of Outstanding Interest under Debentures
April 02 2018 - 8:00AM
Acasti Pharma Inc. (“Acasti” or the “Corporation”)
(NASDAQ:ACST) (TSX-V:ACST) announces that in accordance with
the terms of its outstanding convertible debentures in the total
aggregate principal amount of $2,000,000 issued on February 21,
2017 (the “Debentures”), the Corporation has elected to issue an
aggregate of 30,348 common shares to the holders of the Debentures
in satisfaction of an aggregate of $39,452.40 of interest payable
to the holders of the Debentures, which was earned from January 1,
2018 through and payable as of March 31, 2018 (the “Interest
Payment”). The common shares issuable for the Interest Payment are
issuable at a price of $1.30 per share, being the last closing
price of the common shares on the TSX Venture Exchange before March
31, 2018. The settlement of the interest amount in common shares is
subject to the Corporation receiving all necessary prior approvals
from the TSX Venture Exchange. All amounts referenced are in
Canadian dollars.
About Acasti Pharma
Acasti Pharma is a biopharmaceutical innovator
advancing a potentially best-in-class cardiovascular drug, CaPre®
(omega-3 phospholipid), for the treatment of hypertriglyceridemia,
a chronic condition affecting an estimated one third of the U.S.
population. Since its founding in 2008, Acasti Pharma has focused
on addressing a critical market need for an effective, safe and
well-absorbing omega-3 therapeutic that can make a positive impact
on the major blood lipids associated with cardiovascular disease
risk. CaPre is being evaluated in a Phase 3 clinical program in
patients with severe hypertriglyceridemia, a market that includes 3
to 4 million patients in the U.S. and may expand significantly if
omega-3s demonstrate long-term cardiovascular benefits in on-going
outcomes studies. Acasti’s strategy is to commercialize CaPre in
the U.S. and the company is pursuing partnerships to market CaPre
in major countries around the world. For more information, visit
www.acastipharma.com.
Forward Looking Statements
Statements in this press release that are not
statements of historical or current fact constitute
“forward-looking information” within the meaning of Canadian
securities laws and “forward-looking statements” within the meaning
of U.S. federal securities laws (collectively, “forward-looking
statements”). Such forward-looking statements involve known and
unknown risks, uncertainties, and other unknown factors that could
cause the actual results of Acasti to be materially different from
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are urged
to consider statements labeled with the terms “believes,” “belief,”
“expects,” “intends,” “anticipates,” “will,” or “plans” to be
uncertain and forward-looking. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. Forward-looking
statements in this press release include, but are not limited to,
statements pertaining to Acasti’s issuance of common shares to
holders of Debentures and receipt of required regulatory
approvals.
The forward-looking statements contained in this
news release are expressly qualified in their entirety by this
cautionary statement and the “Special Note Regarding
Forward-Looking Statements” section contained in Acasti’s latest
annual report on Form 20-F, which is available on SEDAR at
www.sedar.com, on EDGAR at www.sec.gov/edgar and on the investor
section of Acasti’s website at www.acastipharma.com (the
“Annual Report”). All forward-looking statements
in this press release are made as of the date of this press
release. Acasti does not undertake to update any such
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law. The
forward-looking statements contained herein are also subject
generally to other risks and uncertainties that are described from
time to time in Acasti’s public securities filings with the
Securities and Exchange Commission and the Canadian securities
regulators. Additional information about these assumptions and
risks and uncertainties is contained in the Annual Report under
“Risk Factors.”
Neither NASDAQ, the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE: Acasti Pharma Inc.
Acasti Contact: Jan D’Alvise
Chief Executive Officer 450-686-4555 info@acastipharma.com
www.acastipharma.com
Media Contact: Jessica DyasCanale
Communications 619-849-5385 jessica@canalecomm.com
Investor Relations Contact: Glen
AkselrodBristol Capital Ltd.(905) 326-1888 ext
10glen@bristolir.com
Acasti Pharma (NASDAQ:ACST)
Historical Stock Chart
From Mar 2024 to Apr 2024
Acasti Pharma (NASDAQ:ACST)
Historical Stock Chart
From Apr 2023 to Apr 2024