Stem Cell Therapeutics Corp. Announces the Extension of the Expiring Date for $7.7 Million Dollars of Outstanding Warrants
April 16 2010 - 8:00AM
Marketwired
Stem Cell Therapeutics Corp. ("SCT") (TSX VENTURE: SSS) announces
the receipt of approval from the TSX Venture Exchange ("TSX-V") to
extend the expiry date of the $0.50 warrants issued in conjunction
with a financing dated November 9, 2007 from May 9, 2010 to June
30, 2010.
Dr. Alan Moore, President and CEO of SCT commented as
follows:
"With our modified REGENISIS-LED enrolment completed and results
expected in Q2, this extension will allow these warrant holders to
make a more informed decision on exercising their warrants. If all
remaining warrant holders from our November 2007 financing choose
to exercise their warrants, this would provide $7.7 million to SCT
without any financing fees or further issue of warrants."
About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp.
is a Canadian public biotechnology company (TSX-V: SSS) focused on
the development and commercialization of drug-based therapies to
treat central nervous system diseases. SCT is a leader in the
development of therapies that utilize drugs to stimulate a
patient's own resident stem cells. The Company's programs aim to
repair neurological function lost due to disease or injury. SCT's
extensive patent portfolio of owned and licensed intellectual
property supports the potential expansion into future clinical
programs in numerous neurological diseases such as traumatic brain
injury, multiple sclerosis, Huntington's disease, Alzheimer's
disease, and ALS.
These securities have not been registered under the United
States Securities Act of 1933, as amended, or the securities laws
of any state, and may not be offered or sold within the United
States or to, or for the account or benefit of U.S. persons unless
an applicable exemption from U.S. registration requirements is
available.
Except for historical information, this press release may
contain forward-looking statements, which reflect the Company's
current expectation regarding future events. These forward-looking
statements involve risk and uncertainties, which may cause but are
not limited to, changing market conditions, the successful and
timely completion of clinical studies, the establishment of
corporate alliances, the impact of competitive products and
pricing, new product development, uncertainties related to the
regulatory approval process and other risks detailed from time to
time in the Company's ongoing quarterly and annual reporting.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Stem Cell Therapeutics Corp. Alan Moore, PhD President
and CEO 403-245-5495 ext.224 amoore@stemcellthera.com Stem Cell
Therapeutics Corp. Angelika Goncalves DaSilva Operations Manager
403-245-5495 ext. 221 adasilva@stemcellthera.com
www.stemcellthera.com
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