Trimel Pharmaceuticals Corporation

Trimel Pharmaceuticals Corporation

June 29, 2012 13:25 ET

Trimel Pharmaceuticals Corporation Announces Terms of $13.25 Million Equity Financing

TORONTO, ONTARIO--(Marketwire - June 29, 2012) -


Trimel Pharmaceuticals Corporation (TSX:TRL) (the "Company") is pleased to announce that in connection with its previously announced public offering, it has entered into an underwriting agreement with a syndicate of underwriters led by RBC Dominion Securities Inc. and including GMP Securities L.P. (collectively, the "Underwriters") to sell 7,569,000 units ("Units") of the Corporation at a price of $1.75 per Unit for aggregate gross proceeds of $13,245,750. Each Unit consists of one common share of the Company ("Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant will entitle the holder to purchase one Common Share at an exercise price of $2.50 until the date which is 30 months after closing of the offering. All of the Units will be issued by the Company and there will no longer be a secondary offering as previously announced.

The Company has also granted the Underwriters an option to cover over-allotments and for market stabilization purposes (the "Over Allotment Option"), which will allow the Underwriter to purchase up to an additional 1,135,350 Units. The Over Allotment Option may be exercised at any time up to 30 days after the closing of the offering.

The Company intends to use the net proceeds from the sale of Units to pay for the costs of the clinical trials for its CompleoTRT™ and Tefina™ products and for general corporate purposes.

The Company will file an amended and restated preliminary prospectus in each of the provinces of Canada, other than Quebec, to reflect the announced offering terms. Such prospectus will be available on SEDAR at

The offering is expected to close on or about July 17, 2012 and is subject to certain customary conditions and regulatory approvals, including the approval of the Toronto Stock Exchange.

This press release does not constitute an offer of securities for sale in the United States or to "U.S. persons" ("U.S. persons"), as such term is defined in Regulation S promulgated under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.

About Trimel

Trimel Pharmaceuticals Corporation (TSX:TRL). Developing Medications for Female Sexual Health and conditions related to Aging, and Well Being. Trimel is developing multiple product opportunities, including CompleoTRT™, a bio-adhesive intranasal Testosterone gel for the treatment of male hypogonadism, a condition commonly referred to as "Low T".

For further information, please contact either Bruce Brydon, Chairman of the Board and Chief Executive Officer at (416) 679-0711 or Kenneth Howling, Chief Financial Officer at (416) 679-0536.

Forward Looking Statements

Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, are assumptions regarding our future operational results. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual performance of the Company is subject to a number of risks and uncertainties, and could differ materially from what is currently expected as set out above. For more exhaustive information on these risks and uncertainties you should refer to our preliminary short form prospectus dated June 27, 2012 which is available at and our amended and restated preliminary short form prospectus when it becomes available. Forward-looking information contained in this press release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time, whether as a result of new information, future events or otherwise, except as required by applicable securities law.

Contact Information

  • Trimel Pharmaceuticals Corporation
    Bruce Brydon
    Chairman of the Board and Chief Executive Officer
    (416) 679-0711

    Trimel Pharmaceuticals Corporation
    Kenneth G. Howling
    Chief Financial Officer
    (416) 679-0536