Tribute Pharmaceuticals Canada Inc.
TSX VENTURE : TRX
OTCQB : TBUFF

Tribute Pharmaceuticals Canada Inc.

June 25, 2014 10:03 ET

Tribute Pharmaceuticals Canada Inc. Announces Terms of $26 Million Financing

LONDON, ONTARIO--(Marketwired - June 25, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Tribute Pharmaceuticals Canada Inc. ("Tribute" or the "Company") (TSX VENTURE:TRX)(OTCQB:TBUFF), is pleased to announce the terms of its previously announced overnight marketed public offering (the "Offering") with a syndicate of underwriters led by Dundee Securities Ltd., and including Mackie Research Capital Corporation (together, the "Underwriters"). The Offering will consist of 37,300,000 units of the Company (the "Units"), each Unit consisting of one common share and one-half of one common share purchase warrant (each, a "Warrant" and together, the "Warrants") at a price per Unit of $0.70 (the "Offering Price") for aggregate gross proceeds of $26,110,000. Each whole Warrant will entitle the holder thereof to acquire one common share of the Company at a price per share of $0.90 for a period of 24 months following the issuance thereof. The Underwriters have been granted the option to offer for sale up to an additional 15% of the Units, exercisable in whole or in part at any time up to 30 days following the closing of the Offering. The Company plans to file an amended preliminary prospectus today reflecting the terms herein. In connection with the Offering, Bloom Burton & Co Inc. and BayFront Capital Partners, Ltd. have been appointed as selling group members.

The Offering is scheduled to close on or about July 15, 2014. The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.

In connection with the Offering, the Underwriters will receive a cash commission equal to 7.5% of the gross proceeds raised under the Offering and that number of non-transferable broker warrants equal to 7.5% of the number of Units sold. Each broker warrant will be exercisable into one Unit of the Company for a period of 24 months from the closing of the Offering at a price equal to the Offering Price.

The net proceeds of the Offering will be used to source, negotiate and enter into future acquisitions of health care products and/or companies in the health care industry that are complementary to and/or consistent with the Company's current product portfolio and the remainder for the repayment of debt and general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and 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 under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Tribute Pharmaceuticals Canada Inc.

Tribute is a specialty pharmaceutical company with a primary focus on the acquisition, licensing, development and promotion of healthcare products in Canada and the U.S. markets.

Tribute markets Cambia® (diclofenac potassium for oral solution), Bezalip® SR (bezafibrate), Soriatane® (acitretin), NeoVisc® (1.0% sodium hyaluronate solution) Uracyst® (sodium chondroitin sulfate solution 2%) and Collatamp G® in the Canadian market. Additionally, NeoVisc® and Uracyst® are commercially available and are sold globally through various international partnerships. Tribute also has the exclusive U.S. rights to develop and commercialize Bezalip® SR in the U.S. and has the exclusive right to sell bilastine a product licensed from Faes Farma for the treatment of Allergic Rhinitis and Chronic Idiopathic Urticaria (hives) in Canada. The exclusive license is inclusive of prescription and non-prescription rights for bilastine, as well as adult and pediatric presentations in Canada. This product is subject to receiving Canadian regulatory approval.

Tribute Pharmaceuticals' Forward Looking Statement

This press release contains certain forward-looking statements under applicable securities laws about Tribute which statements can be identified by the use of forward- looking terminology, such as "may", "will", "expect", "intend", "anticipate", "estimate", "predict", "plan" or "continue" or the negative thereof or other variations thereon or comparable terminology referring to future events or future performance. Forward-looking statements, by their nature, are subject to risks and uncertainties, Tribute actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous factors, any of which could cause actual results to vary materially from current results or anticipated future results. See Tribute reports filed with the Canadian Securities Regulatory Authorities and the U.S. Securities and Exchange Commission from time to time for cautionary statements identifying important factors with respect to such forward-looking statements, including certain risks and uncertainties that could cause actual results to differ materially from results referred to in forward-looking statements. Tribute assumes no obligation to update the information contained in this press release to update forward-looking statements to reflect changed assumptions, the occurrence of anticipated events or changes in future operating results, financial condition or business over time.

Bezalip®SR and Soriatane® are registered trademarks and under license from Actavis Group PTC ehf. Cambia® is a registered trademark and under license from Depomed, Inc. Collatamp G® is a registered trademark and under license EUSA Pharma (Europe) Limited.

For further information on Tribute visit the Company's website: http://www.tributepharma.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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