Prospect Park Capital Corp.
TSX VENTURE : PPK

November 16, 2015 17:12 ET

Prospect Park Capital Receives First Returns From Its Initial Investment

TORONTO, ONTARIO--(Marketwired - Nov. 16, 2015) - Prospect Park Capital Corp. ("Prospect Park") (TSX VENTURE:PPK), a public healthcare focused investment corporation, announces that its initial investment in IOI, LLC ("IOI") has been purchased by a private investment group. Prospect Park invested in IOI as a limited partner thereby participating in IOI's subordinated note to finance Serenity Pharmaceuticals, LLC ("Serenity"). Serenity is a private pharmaceutical company dedicated to the development of pharmaceuticals in the urological area. In consideration for selling its membership interest in IOI, Prospect Park has received its initial capital returned (US$150,000) plus an 8% return (US$12,000) and the retained ability to collect an additional 32% should the Serenity drug successfully receive approval by the United States Food and Drug Administration.

Additional information about Prospect Park, its investment in IOI and Serenity is available in Prospect Park's management information circular filed on SEDAR (www.sedar.com) on August 29, 2014.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties, including the likelihood the FDA accepts the NDA application for approval of the Serenity nocturia drug. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Prospect Park believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Prospect Park disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

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.

Contact Information

  • Prospect Park Capital Corp.
    Dr. Samuel Herschkowitz
    Chief Executive Officer
    (416) 865-7209
    docsam122@gmail.com