CALGARY, ALBERTA--(Marketwire - Nov. 10, 2010) - Stem Cell Therapeutics Corp. (TSX VENTURE:SSS) ("SSS" or "Stem Cell Therapeutics") is pleased to announce that it filed today a preliminary short form base shelf prospectus (the "Prospectus") with the securities commissions in each of the provinces of British Columbia, Alberta, Manitoba, Ontario and Nova Scotia. The Prospectus, when made effective, will allow Stem Cell Therapeutics to make offerings of common shares, warrants, or units for initial aggregate proceeds of up to $15 million during the next 25 months to potential purchasers in said provinces.
As previously announced, Stem Cell Therapeutics expects that it will need to fund ongoing research and development, working capital and general corporate activities which may include Stem Cell Therapeutics' clinical trial programs.
The Prospectus is expected to provide Stem Cell Therapeutics with a flexible and efficient approach for completing future financings for research initiatives and development.
A copy of the preliminary short form base shelf prospectus may be obtained from the SEDAR website at www.sedar.com or from Stem Cell Therapeutics upon request by email at email@example.com, by mail at Suite 500, 255 5th Ave. SW, Calgary, AB T2P 3G6 or by telephone at 403.245.5495 ext. 221.
This news release shall not constitute an offer to sell nor the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. is a public biotechnology company (TSX VENTURE:SSS) focused on the development and commercialization of drug-based therapies to treat central nervous system diseases. Stem Cell Therapeutics is a leader in the development of therapies that utilize drugs to stimulate a patient's own resident stem cells. Stem Cell Therapeutics' programs aim to repair brain and nerve function lost due to disease or injury. The Stem Cell Therapeutics' 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.
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.