MONTREAL, September 6, 2001 – ProMetic Life Sciences Inc. (TSE: PLI) announces today it has entered into agreements pursuant to which it will issue 5,300,500 additional Subordinate Voting Shares (the “Shares”) for gross proceeds of $7,950,750 detailed as follows: the filing of a preliminary short form prospectus in the Province of Quebec, as of today, for the issuance of 2,870,000 Shares for gross proceeds of $4,305,000 on a “bought deal” basis through Dundee Securities Corporation (“Dundee”), the grant of a 15% greenshoe option (430,500 Shares) to Dundee to cover over-allotments and for market stabilization purposes and a private placement of $3 million (2,000,000 Shares) done on the same terms and conditions as of the public offering. These offerings are both subject to regulatory approvals.
ProMetic Life Sciences Inc. (TSE: PLI) is an international biopharmaceutical company with headquarters in Montreal, Quebec, and through its subsidiaries, have additional facilities in Joliette (Quebec), the UK, the Isle of Man (GB) and the US. ProMetic is engaged in research, development, manufacture and marketing of a variety of commercial applications from its proprietary platform technologies, which are used in therapeutics, large-scale drug purification, chemical genomics and proteomics, drug delivery and drug development. Additional information is available on the company’s website: prometic.com.
This press release contains forward-looking statements that involve risks and uncertainties, including, but not limited to the Company’s ability to develop, manufacture, and successfully commercialize value-added pharmaceutical products and to obtain contracts for its products and services and commercial acceptance of advanced affinity separation technology. Shareholders are cautioned that these statements are predictions and these actual events or results may differ materially from those anticipated in these forward-looking statements.
Contacts: ProMetic Worldwide