ANN ARBOR, Mich., Nov. 07, 2016 (GLOBE NEWSWIRE) -- Zomedica Pharmaceuticals Corp. (TSX-V:ZOM) ("Zomedica"), a veterinary pharmaceutical company, today announced that it has retained the services of Renmark Financial Communications Inc. of Toronto, Ontario to expand its investor relations activities.
“We retained Renmark to reinforce Zomedica’s profile in the financial community and to enhance our visibility,” stated President and CEO Gerald Solensky Jr. “Renmark's standards and methodologies align with the message that Zomedica wants to communicate to the investing public.”
In consideration of the services to be provided, the monthly fee payable by Zomedica will consist of a cash payment in the amount of C$5,000, starting December 1, 2016 for a period of six months ending on May 31, 2016 and continuing monthly thereafter. Zomedica may terminate the agreement at any time after May 31, 2016 upon the provision of 30 days written notice.
Renmark Financial Communications does not have any interest, directly or indirectly, in Zomedica or its securities, or any right or intent to acquire such an interest.
Zomedica also announces that its previously announced non-brokered private placement offering of up to 10,000,000 common shares (each a "Common Share") at a price of C$1.50 per Common Share is ongoing. The first tranche of this offering has been previously completed, with an aggregate of 3,342,480 shares having been issued on August 25, 2016 (see the Company's prior news release of that date) for aggregate gross proceeds of C$5,013,734. All of the Common Shares issued in connection with this financing will be subject to a statutory four-month hold period in accordance with applicable securities laws. Additional tranches are expected to be completed upon receipt of subscription materials and subscription funds.
At present, subscriptions from certain insiders have been received and a further closing is pending. Zomedica expects the proceeds raised under this financing to be used for the following purposes:
- Advancement and further development of its therapeutic pipeline;
- Potential acquisitions, furthering its intellectual property and associated protections;
- Capital markets activities and expenditures; and
- General working capital purposes.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
With U.S. operations based in Ann Arbor, Michigan, Zomedica is a veterinary pharmaceutical company targeting health and wellness solutions for companion animals (canine, feline and equine) through a ground-breaking approach that focuses on the unmet needs of clinical veterinarians. Zomedica is building a diversified portfolio of products comprised of the discovery, development and commercialization of innovative drugs alongside novel drug delivery systems, devices and diagnostics. With multiple clinical veterinarians in executive management, it is Zomedica’s mission to give veterinarians the opportunity to lower costs, increase productivity, and grow revenue while better serving the animals in their care. For more information, visit www.ZOMEDICA.com.
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to the potential aggregate proceeds to be raised under the offering, potential insider participation in the offering, the intended use of proceeds and the potential closing of additional tranches under the offering. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to future clinical trials, regulatory approvals, safety and efficacy of our products, the use of our product, intellectual property protection and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information. Investor Relations Contact Shameze Rampertab, CPA, CA firstname.lastname@example.org +1 647.283.3630 Barry Mire, Renmark Financial Communications Inc. email@example.com +1 416.644.2020 or +1 514.939.3989 Media Contact Andrea Eberle firstname.lastname@example.org +1 734.369.2555