MONTREAL, March 18 /CNW Telbec/ - Akela Pharma Inc. (TSX: "AKL"), a drug
development company focused on developing therapies for the inhalation and
pain markets, today announced that it has filed a final short form prospectus
and received a receipt from Canadian regulatory authorities for an offering of
up to 7,500,000 units, of which 3,750,000 units are underwritten and up to
3,750,000 units are offered on a best efforts basis at a price of $1.20 per
unit for aggregate maximum proceeds of $9.0 million. The offering is being led
by Jennings Capital Inc. and includes Desjardins Securities Inc. (together the
"Underwriters"). The Underwriters will have the option to purchase, at $1.20,
up to that number of additional units as is equal to 15% of the total number
of units sold under the offering.
