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Trimel Pharmaceuticals Announces Terms of $40 Million Equity Financing


4/19/2013 7:40:40 AM

TORONTO, ONTARIO--(Marketwired - April 18, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Trimel Pharmaceuticals Corporation (TRL.TO) (the "Company" or "Trimel") 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 Capital Markets and including D&D Securities Inc. and Paradigm Capital Inc. (collectively, the "Underwriters") to sell 50,000,000 common shares of the Company (the "Common Shares") at a price of $0.80 per Common Share for aggregate gross proceeds of $40.0 million. No warrants of the Company will be offered as part of the transaction.

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 Underwriters to purchase up to an additional 7,500,000 Common Shares. The Over Allotment Option may be exercised at any time up to 30 days following the closing of the offering.

The Company intends to use the net proceeds from the sale of Common Shares to pay for the costs of completing the CompleoTRT™ New Drug Application, payment of certain milestone payments related to CompleoTRT™, manufacturing scale-up costs and finished goods production related to CompleoTRT™, costs of Tefina™ clinical trials, maintenance of cash amounts to remain in compliance with the Company's existing credit facilities, and for general corporate purposes.

The Company will file a final prospectus in each of the provinces of Canada, other than Québec, in connection with the offering. Such prospectus will be available on SEDAR at www.sedar.com.

The Offering is expected to close on or about April 24, 2013 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 (TRL.TO) - Trimel is a specialty pharmaceutical company actively developing medications for male hypogonadism, female sexual dysfunction and various respiratory disorders. CompleoTRT™, a product utilizing Trimel's licensed bioadhesive intranasal gel technology, has successfully completed its pivotal Phase III study for the treatment of male hypogonadism, a condition commonly referred to as "Low T", and Trimel is preparing to file its New Drug Application with the FDA in the second quarter of 2013. For more information, please visit www.trimelpharmaceuticals.com.

Notice regarding 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 amended and restated preliminary short form prospectus dated April 3, 2013 which is available at www.sedar.com. 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:

Trimel Pharmaceuticals Corporation

Kenneth G. Howling

Chief Financial Officer

(416) 679-0536

ir@trimelpharmaceuticals.com

www.trimelpharmaceuticals.com



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