February 27, 2013 08:41 ET
TORONTO, ONTARIO--(Marketwire - Feb. 27, 2013) - Mr. Eugene Melnyk today announced an update to his early warning report filed on August 2, 2011 in respect of Trimel Pharmaceuticals Corporation. Mr. Melnyk is in late stage discussions to refinance certain loans that are secured by Mr. Melnyk's common shares of Trimel which represent approximately 58.9% of the outstanding shares of Trimel. Mr. Melnyk has beneficial ownership of these pledged shares. However, the lenders now have the right to vote or sell those shares. As a result of the expected refinancing, these rights would revert to Mr. Melnyk.
In connection with this news release, an early warning report will be filed by Mr. Melnyk in accordance with applicable securities laws. A copy of that early warning report will be available on SEDAR at www.sedar.com and can be obtained from:
25 Metcalfe Street
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