VANCOUVER, Jan. 21, 2014 /PRNewswire/ - iCo Therapeutics Inc. ("iCo" or the "Company") (TSXV: ICO) (OTCQX: ICOTF) announced today that it has undertaken an overnight marketed public offering (the "Offering") of units (the "Units"), comprised of common shares of the Company and common share purchase warrants (a "Warrant"). The Offering is to be effected in each of the provinces of British Columbia, Alberta and Ontario by way of a prospectus supplement to iCo's base shelf prospectus dated July 3, 2012 and elsewhere on a private placement basis. Prior to the Offering, iCo had 67,811,230 common shares issued and outstanding. The number of Units to be distributed under the Offering, the price of each Unit and the exercise price of each Warrant will be determined in the context of the market.
The Company expects to close the Offering during the week of January 27, 2014, subject to satisfaction of customary closing conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, such as the final approval of the TSX Venture Exchange.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act ("U.S. Persons"), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities to, or for the account of benefit of, persons in the United States or U.S. Persons.
About iCo Therapeutics
iCo Therapeutics in-licenses and redefines existing drug candidates or
generics by employing reformulation and delivery technologies for new
or expanded use indications. The Company has exclusive worldwide rights
to two drug candidates - iCo-007 for Diabetic Macular Edema (DME) and
iCo-008 for other sight-threatening diseases. iCo-007 is in Phase 2
clinical studies for DME. With Phase 2 clinical history, iCo-008 is
targeted for the treatment of keratoconjunctivitis and wet age-related
macular degeneration. In addition, iCo holds worldwide rights to an
oral drug delivery platform. The first platform candidate is the Oral
Amp B Delivery system, utilizing a known anti-fungal drug to treat
life-threatening infectious diseases. iCo trades on the TSX Venture
Exchange under the symbol "ICO" and the OTCQX under the symbol "ICOTF".
For more information, visit the Company website at: www.icotherapeutics.com.
No regulatory authority has approved or disapproved the content of this release. Neither the TSX Venture Exchange nor its Regulatory 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.
Forward Looking Statements
Certain statements included in this press release may be considered
forward-looking statements" within the meaning of applicable securities
laws. Forward-looking statements can be identified by words such as:
"anticipate," "intend," "plan," "goal," "seek," "believe," "project,"
"estimate," "expect," "strategy," "future," "likely," "may," "should,"
"will," and similar references to future periods and includes, but is
not limited to, statements about the timing of the closing of the
Offering, the satisfaction and timing of the receipt of required
regulatory approvals and other conditions to closing of the Offering
and the jurisdictions in which the Units will be offered. Such
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements to
be materially different from those implied by such statements, and
therefore these statements should not be read as guarantees of future
performance or results. All forward-looking statements are based on
iCo's current beliefs as well as assumptions made by and information
currently available to iCo and relate to, among other things,
anticipated financial performance, business prospects, strategies,
regulatory developments, market acceptance and future commitments.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which are based only on information
currently available to iCo and speak only as of the date of this press
release. Due to risks and uncertainties, including the risks and
uncertainties identified by iCo in its public securities filings and on
its website, actual events may differ materially from current
expectations. iCo disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.
SOURCE iCo Therapeutics Inc.