VICTORIA, BC, June 15,
2023 /CNW/ - Eupraxia Pharmaceuticals Inc.
("Eupraxia" or the "Company") (TSX: EPRX) today announced that it
has filed and obtained a receipt for a preliminary short form base
shelf prospectus with the securities regulatory authorities in each
of the provinces of Canada, except
Québec.
Upon a final short form base shelf prospectus (the "Prospectus")
becoming effective, replacing the Company's existing shelf
prospectus filed in January 2022,
these filings, subject to securities regulatory requirements, will
allow the Company and certain of its securityholders to qualify the
distribution of up to C$200 million
of common shares, preferred shares, debt securities, warrants,
subscription receipts, and units, or any combination thereof
(collectively, the "Securities") during the 25-month period that
the Prospectus is effective, in amounts, at prices and on terms
based on market conditions at the time of any offering, and set
forth in an accompanying shelf prospectus supplement ("Prospectus
Supplement").
The filing of the Prospectus is intended to provide the Company
with financing flexibility. Each Prospectus Supplement will contain
specific information concerning, among other matters, the
Securities to be issued and the use of proceeds from any such
issuance. There is no certainty that any Securities will be offered
or sold under the Prospectus and any Prospectus Supplement within
the 25-month period that it is effective.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or
qualifications under the securities laws of any such
jurisdiction.
About Eupraxia Pharmaceuticals
Inc.
Eupraxia is a clinical-stage biotechnology company focused on
the development of locally delivered, extended-release alternatives
to currently approved drugs. Each of Eupraxia's product candidates
has the potential to address therapeutic areas with high unmet
medical need and strives to provide improved patient benefit by
delivering targeted, long-lasting activity with fewer side
effects.
Notice Regarding Forward-looking
Statements and Information
This news release includes forward-looking statements and
forward–looking information within the meaning of Canadian
securities laws. Often, but not always, forward–looking information
can be identified by the use of words such as "plans", "is
expected", "expects", "scheduled", "intends", "contemplates",
"anticipates", "believes", "proposes", "potential" or variations
(including negative and grammatical variations) of such words and
phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Forward looking statements in this news release include statements
regarding the anticipated offering of Securities under the
Prospectus; the filing of a Prospectus Supplement; and the
potential of Eupraxia's product candidates. Such statements and
information are based on the current expectations of Eupraxia's
management, and are based on assumptions, including but not limited
to: future research and development plans for the Company
proceeding substantially as currently envisioned; and the Company's
ability to obtain positive results from the Company's research and
development activities, including clinical trials. Although
Eupraxia's management believes that the assumptions underlying
these statements and information are reasonable, they may prove to
be incorrect. The forward–looking events and circumstances
discussed in this news release may not occur by certain dates or at
all and could differ materially as a result of known and unknown
risk factors and uncertainties affecting Eupraxia, including, but
not limited to: the Company's limited operating history; the
Company's dependence on the success of its lead product candidate;
the Company's need for substantial additional financing to achieve
its goals; if the Company breaches any of the agreements under
which it licenses rights to its product candidates or technology
from third parties, the Company could lose license rights that are
important to its business; the Company's current license agreement
may not provide an adequate remedy for its breach by the licensor;
the Company's technology may not be successful for its intended
use; the Company's current and future product candidates will
require regulatory approval, which is costly and the Company may
not be able to obtain it; the Company's clinical trials of its
product candidates may not demonstrate safety and efficacy to the
satisfaction of regulatory authorities; the Company completely
relies on third parties to provide supplies and inputs required for
its products; the Company relies on external contract research
organizations to provide clinical and non-clinical research
services; and other risks and uncertainties described in more
detail in Eupraxia's public filings on SEDAR (www.sedar.com).
Although Eupraxia has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward–looking statements and information,
there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended. No
forward–looking statement or information can be guaranteed. Except
as required by applicable securities laws, forward–looking
statements and information speak only as of the date on which they
are made and Eupraxia undertakes no obligation to publicly update
or revise any forward–looking statement or information, whether as
a result of new information, future events or otherwise.
SOURCE Eupraxia Pharmaceuticals Inc.