VICTORIA, March 31, 2020 /CNW/ - IMMUNOPRECISE ANTIBODIES
LTD. (the "Company" or "IPA") (TSX VENTURE: IPA) (OTC QB: IPATF)
announces that it has extended maturity date for $2,000,000 of previously issued debentures from
March 26, 2020 to September 26, 2020.
The Company is also pleased to announced that it has completed
its settlement of $700,00 of
previously issued debentures and interest of $46,875 accrued thereon by issuing 1,244,792
common shares at a price of $0.60 per
share (the "Debt Settlement"). The purpose of the Debt
Settlement is to reduce the ongoing debt obligations of the
debentures. The shares will be subject to a four month hold
period expiring on July 27, 2020.
About ImmunoPrecise Antibodies Ltd.
The Company is an international, full-service, therapeutic
antibody discovery company offering species agnostic advancements
such as the B cell SelectTM progressive single-cell
interrogation technology and the DeepDisplayTM custom,
transgenic animal phage libraries, as well as the
AbthenaTM bispecific program. IPA is focused on the next
generation of antibody discovery, to deliver the most
therapeutically-relevant antibodies, in a shorter period of time,
with the highest probability of succeeding to clinical trials.
The Company's antibody discovery and development are conducted
in Utrecht and Oss, the Netherlands (U-Protein Express and IPA
Europe, respectively), and in Victoria,
British Columbia (IPA Canada). The Company operates globally
to offer a continuum of superior antibody services, transforming
the face of therapeutic discovery, by decreasing turnaround time
and risk, and promoting clinical success.
Forward Looking Information
This news release contains statements that, to the extent
they are not recitations of historical fact, may constitute
"forward-looking statements" within the meaning of applicable
Canadian securities laws. The Company uses words such as "may",
"would", "could", "will", "likely", "expect", "believe", "intend"
and similar expressions to identify forward-looking statements. Any
such forward-looking statements are based on assumptions and
analyses made by the Company in light of its experience and its
perception of historical trends, current conditions and expected
future developments. However, whether actual results and
developments will conform to the Company's expectations and
predictions is subject to any number of risks, assumptions and
uncertainties. Many factors could cause the Company's actual
results to differ materially from those expressed or implied by the
forward-looking statements contained in this news release. The
forward-looking statements contained herein speak only as of the
date of this press release and, unless required by applicable law,
ImmunoPrecise undertakes no obligation to publicly update or revise
such information, whether as a result of new information, future
events or otherwise.
Neither 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 ImmunoPrecise Antibodies Ltd.