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Pivotal Therapeutics Inc. Announces $5,000,000 Institutional Private Placement



6/25/2012 10:48:28 AM

WOODBRIDGE, ON, June 25, 2012 /PRNewswire/ - Pivotal Therapeutics Inc. (OTCQX: PVTTF) (CNSX: PVO), a specialty pharmaceutical company with a focus on cardiovascular health, is pleased to announce it has entered into a subscription agreement with a US Institutional Fund; Crossover Healthcare Fund LLC, an Affiliate of Summer Street Research Partners, and intends to close a non-brokered private placement for CDN $5 million.

Pursuant to the subscription agreement, the Company has agreed to issue 22,727,273 units at a price of $0.22 each. Each unit consists of one common share and one-half purchase warrant. Each full purchase warrant may be exercised to purchase one common share of the Company upon payment of the exercise price of $0.50 per common share. The purchase warrants expire 24 months following the closing of the private placement and may be called by the Company at any time after six months following closing, provided the common shares of the Company have traded at a price of at least $0.75 for 20 trading days within a 30 consecutive day trading period. Units will be issued in tranches as funds are received; please refer to the Company Form 9 Filings on the CNSX website for detailed updates with regards to this financing.

About Pivotal Therapeutics Inc.
With offices in Toronto, Canada and Boca Raton, Florida, Pivotal is a publicly traded (OTCQX: PVTTF; CNSX: PVO), specialty pharmaceutical company with a focus on cardiovascular health and overall health. Pivotal's lead product VASCAZENTM is a prescription-only medical food formulated to meet the dietary Omega-3 deficient needs of patients with cardiovascular disease through elevating Eicosapentaenoic (EPA) and Docosahexaenoic (DHA) to levels associated with reduced risk of cardiovascular complications.

VASCAZENTM is a >90% pure, proprietary EPA:DHA fatty acid formulation, protected by a series of both issued and pending US and foreign patents and commercialized by prescription only. This unique formulation will provide the cornerstone upon which a family of cutting edge combination products, with efficacy across a broad spectrum of cardiac care, will be commercialized.

OMAZENTM is a >90% pure, proprietary EPA:DHA fatty acid formulation commercialized for sale and distribution in Canada for the maintenance of good health through elevating Omega-3 fatty acid levels. The unique formulation and dosage will be available to patients and consumers who realize the health benefits of Omega-3 supplementation with a quality product.

Disclosure Notice
The information contained in this document is as of June 25, 2012. This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Pivotal's actual results to differ materially from those projected in such forward-looking statements. These statements can be identified by the use of words such as "will", "anticipate", "estimate", "expect", "project", "forecast", "intend", "plan", "believe", "project", "potential", and similar expressions with any discussion of future operating or financial performance or events. In particular, factors that could cause actual results to differ materially from those in forward looking statements include the following: Pivotal's inability to obtain additional financing on acceptable terms; growth in costs and expenses; inability to compete with others who provide comparable products; risk that the Company's products will not gain widespread market acceptance; risks relating to the Company's ability to maintain its CSNX listing. Forward-looking statements speak only as of the date made and are not guarantees of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this document as a result of new information or future events or developments. CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this information.

SOURCE Pivotal Therapeutics Inc.


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