ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc.

October 22, 2013 09:29 ET

ProMetic Announces Terms of Common Share Offering

LAVAL, QUEBEC--(Marketwired - Oct. 22, 2013) -


ProMetic Life Sciences Inc. (TSX:PLI) (OTCQX:PFSCF), ("ProMetic" or the "Corporation") announced today that it has priced its previously announced public offering (the "Offering") of common shares in the capital of the Corporation (the "Common Shares").

The Corporation will file an amended and restated preliminary short form prospectus (the "Amended Preliminary Prospectus") with the securities regulatory authorities in all Canadian provinces in order to amend and restate the Corporation's preliminary short form prospectus dated October 21, 2013.

The Amended Preliminary Prospectus will reflect the updated terms of the Offering and will provide for the sale of 22,223,000 Common Shares at a price of $0.90 per Common Share for gross proceeds of $20,000,700.

The Offering is being conducted on a "best efforts" basis through a syndicate of agents led by Paradigm Capital Inc. and including Beacon Securities Limited, D&D Securities Inc. and Cormark Securities Inc. The closing of the Offering is scheduled to take place on or about November 7, 2013. It is subject to certain conditions including receipt of all necessary regulatory and stock exchange approvals including the receipt of listing approval by the Toronto Stock Exchange for the Common Shares.

The net proceeds to the Corporation from the Offering will be used for the advancement of the plasma-derived orphan drug and small molecule therapeutics clinical programs. The net proceeds will also allow the Corporation to exercise greater control and ownership over its technology platforms rather than solely enabling third parties, therefore providing an opportunity to retain a greater portion of the associated value for its shareholders.

For more information, potential investors should read the Amended Preliminary Prospectus, including the "Risk Factors." A copy of the Amended Preliminary Prospectus will be available on the SEDAR website at

The securities offered have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. State securities laws and may not be offered or sold, directly or indirectly, within the United States or its territories or possessions or to or for the account of any U.S. person (as defined in Regulation S under the U.S. Securities Act) other than pursuant to an available exemption from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy any such securities within the United States, or its territories or possessions, or to or for the account of any U.S. person.

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. ( is a long established biopharmaceutical company with globally recognized expertise in bioseparations, plasma-derived therapeutics and small-molecule drug development. ProMetic offers its state of the art technologies for large-scale purification of biologics, drug development, proteomics and the elimination of pathogens to a growing base of industry leaders and uses its own affinity technology that provides for highly efficient extraction and purification of therapeutic proteins from human plasma in order to develop best-in-class therapeutics and orphan drugs. ProMetic is also active in developing its own novel small-molecule therapeutic products targeting unmet medical needs in the field of fibrosis, cancer and autoimmune diseases/inflammation. Headquartered in Laval (Canada), ProMetic has R&D facilities in the UK, the U.S. and Canada, manufacturing facilities in the UK and business development activities in the U.S., Europe and Asia.

Forward Looking Statements

This press release contains forward-looking statements about ProMetic's objectives, strategies and businesses and the Offering that involve risks and uncertainties. These statements are "forward-looking" because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. Such risks and assumptions include, but are not limited to, ProMetic's ability to develop, manufacture, and successfully commercialize value-added pharmaceutical products, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of ProMetic to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process and general changes in economic conditions. You will find a more detailed assessment of the risks that could cause actual events or results to materially differ from our current expectations on page 26 of ProMetic's Annual Information Form for the year ended December 31, 2012, under the heading "Risk and Uncertainties related to ProMetic's business" and in the Amended and Restated Prospectus under the heading "Risk Factors". As a result, we cannot guarantee that any forward-looking statement will materialize. We assume no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason, unless required by applicable securities laws and regulations. All amounts are in Canadian dollars unless indicated otherwise.

Contact Information

  • Pierre Laurin
    President and CEO
    ProMetic Life Sciences Inc.

    Frederic Dumais
    Director, Communications and
    Investor Relations
    ProMetic Life Sciences Inc.