Acasti Pharma Announces a Private Placement Financing of Approximately $2,000,000 CDN
08 2월 2012 - 1:52AM
Acasti Pharma Inc. ("Acasti") (TSX-V:APO) announces it has received
from Dr. Harlan Waksal, Acasti's Executive Vice-President, Business
& Scientific Affairs, and Neptune Technologies &
Bioressources ("Neptune"), Acasti's parent company, commitments to
purchase, by way of private placement, Acasti capital stocks for
total net proceeds of approximately $2,000,000 CDN (the
"Offering").
Dr. Harlan Waksal has committed, subject to customary
conditions, to purchase for an aggregate consideration of
$1,000,000 USD, 750,000 units of Acasti composed of (i) 750,000
class "A" common shares in the capital of Acasti at $1.33 USD
per share, and (ii) warrants to purchase 750,000 additional shares.
The warrants to purchase additional shares will be exercisable at a
price of $1.50 CDN and will expire 36 months following their issue
date. The warrants will be vesting over a period of two years and a
portion of such warrants will be subject to the achievement of
certain agreed upon and predefined milestones.
Neptune has also committed, subject to customary conditions, to
purchase 750,000 class "A" common shares in the capital of Acasti
at $1.33 CDN per share, for an aggregate consideration of
approximately $1,000,000 CDN.
The net proceeds of the Offering will be used for general
corporate purposes (working capital). All securities issued in
connection with the Offering will be purchased by persons or
entities related to Acasti.
The offering is subject to the TSX Venture Exchange
approvals.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities. The securities offered
and sold in the private placement have not been registered under
the Securities Act of 1933, as amended, or any state securities
laws, and may not be offered or sold in the United States absent
registration, or an applicable exemption from registration under
the Securities Act and applicable state securities laws.
About Acasti Pharma Inc.
Acasti Pharma is developing a product portfolio of proprietary
novel long-chain omega-3 phospholipids. Phospholipids are the major
component of cell membranes and are essential for all vital cell
processes. They are one of the principal constituents of High
Density Lipoprotein (good cholesterol) and, as such, play an
important role in modulating cholesterol efflux. Acasti Pharma's
proprietary novel phospholipids carry and functionalize the
polyunsaturated omega-3 fatty acids EPA and DHA, which have been
shown to have substantial health benefits and which are stabilized
by potent antioxidants. Acasti Pharma is focusing initially on
treatments for chronic cardiovascular and cardiometabolic
conditions within the over-the-counter, medical food and
prescription drug markets.
About Neptune Technologies & Bioressources
Inc. (Nasdaq.NEPT) (TSX-V:NTB)
Neptune is an industry-recognized leader in the innovation,
production and formulation of science-based and clinically proven
novel phospholipid products for the nutraceutical and
pharmaceutical markets. The Company focuses on growing consumer
health markets including cardiovascular, inflammatory and
neurological diseases driven by consumers taking a more proactive
approach to managing health and preventing disease. The Company
sponsors clinical trials aimed to demonstrate its product health
benefits and to obtain regulatory approval for label health claims.
Neptune is continuously expanding its intellectual property
portfolio as well as clinical studies and regulatory approvals.
Neptune's products are marketed and distributed in over 30
countries worldwide.
"Neither Nasdaq nor the 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."
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements"
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995 and Canadian securities laws. Such forward-looking
statements involve known and unknown risks, uncertainties, and
other unknown factors that could cause the actual results of the
Company to be materially different from historical results or from
any future results expressed or implied by such forward-looking
statements. In addition to statements which explicitly describe
such risks and uncertainties, readers are urged to consider
statements labeled with the terms "believes," "belief," "expects,"
"intends," "anticipates," "will," or "plans" to be uncertain
and forward-looking. The forward-looking statements contained
herein are also subject generally to other risks and uncertainties
that are described from time to time in the Company's reports filed
with the Securities and Exchange Commission and the Canadian
securities commissions.
CONTACT: Acasti Contact:
Tina Sampalis
President
+1 450.686.4555
t.sampalis@acastipharma.com
www.acastipharma.com
Howard Group Contact:
Dave Burwell
(888) 221-0915
dave@howardgroupinc.com
www.howardgroupinc.com
Xavier Harland
Chief Financial Officer
+1.450.687.2262
x.harland@acastipharma.com
www.acastipharma.com
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