Lexagene Files Preliminary Short Form Base Shelf Prospectus
September 03 2021 - 3:15PM
LexaGene Holdings Inc. (OTCQB: LXXGF; TSX-V: LXG) (the
“
Company”), a molecular diagnostics company that
develops fully automated rapid pathogen detection systems, today
announces that it has filed and received a receipt for a
preliminary short form base shelf prospectus (“
Shelf
Prospectus”) with the securities regulators in each of the
provinces and territories of Canada.
The Shelf Prospectus, when made final, will allow the Company to
make offerings of common shares, warrants, subscription receipts,
debt securities, units or any combination thereof for up to an
aggregate total of CAD$25 million during the 25-month period
that the Shelf Prospectus is effective. If any securities are
offered under the Shelf Prospectus, when made final, the terms of
any such securities and the intended use of the net proceeds
resulting from such offering would be established at the time of
any offering and would be described in a prospectus supplement
filed with the applicable Canadian securities regulators at the
time of such an offering.
The Company has filed the Shelf Prospectus with the intention
that once a receipt has been provided for a final short form base
shelf prospectus, it will provide the Company with greater
financial flexibility going forward. The Company, however, has not
entered into any agreements or arrangements to authorize or offer
any securities at this time. The Company ultimately may never issue
any securities under this prospectus. The terms of any future
securities offer will be made subject to applicable securities
laws.
A copy of the Shelf Prospectus can be found under the Company’s
profile on SEDAR at www.sedar.com.
Dr. Jack Regan, LexaGene’s Founder and CEO stated, “We made the
decision to file the shelf prospectus to provide maximum
flexibility as we continue to pursue growth initiatives in both the
United States and Canada. Filing is good corporate governance and
provides us the ability more readily raise capital to support
LexaGene’s projected growth in the coming years.”
The Company may also use the Prospectus in connection with an
"at-the-market distribution" in accordance with applicable
securities laws, which would permit securities to be sold on behalf
of the Company through the TSX Venture Exchange (the
"TSXV") (or other existing trading markets) as further described in
the applicable prospectus supplement. To date, no agreement has
been entered into with respect to such a distribution.
To learn more about LexaGene and the MiQLab System or subscribe
to company updates, visit www.lexagene.com, or follow us on Twitter
or LinkedIn.
On Behalf of the Board of DirectorsDr.
Jack ReganChief Executive Officer &
Chairman
The securities being referred to in this news release have not
been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold
in the U.S. or to, or for the account or benefit of, U.S. persons
absent registration or an applicable exemption from the
registration requirements. This news release does not constitute an
offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful.
About LexaGene Holdings Inc.LexaGene is a
molecular diagnostics company that develops molecular diagnostic
systems for pathogen detection and genetic testing for other
molecular markers for on-site rapid testing in veterinary
diagnostics, food safety and for use in open-access markets such as
clinical research, agricultural testing and biodefense. End-users
simply need to collect a sample, load it onto the instrument with a
sample preparation cartridge, enter sample ID and press ‘go’. The
MiQLab™ system delivers excellent sensitivity, specificity, and
breadth of detection and can return results in approximately two
hours. The unique open-access feature is designed for custom
testing so that end-users can load their own real-time PCR assays
onto the instrument to target any genetic target of interest.
The TSX Venture Exchange Inc. has in no way passed upon the
merits of the proposed transaction and has neither approved nor
disapproved the contents of this press release. Neither 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.
This news release contains forward-looking information, which
involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current
expectation. Important factors -- including the availability of
funds, the results of financing efforts, the success of technology
development efforts, the cost to procure critical parts,
performance of the instrument, market acceptance of the technology,
regulatory acceptance, and licensing issues -- that could cause
actual results to differ materially from the Company's expectations
as disclosed in the Company's documents filed from time to time on
SEDAR (see www.sedar.com). Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The company disclaims
any intention or obligation, except to the extent required by law,
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Corporate Contact:
Gail Winslow
Director of Marketing
gwinslow@lexagene.com
978.482.6237
ir@lexagene.com
800.215.1824
Investors:
Sharon Choe
Vice President
LaVoieHealthScience
schoe@lavoiehealthscience.com
(857) 241-7393
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