TORONTO, Nov. 25, 2011 (GLOBE NEWSWIRE) -- Intellipharmaceutics International Inc. (Nasdaq:IPCI - News) (TSX:I), a pharmaceutical company specializing in the research, development, and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs, today announced that it has filed a preliminary short form base shelf prospectus with securities regulatory authorities in each of the provinces and territories of Canada, except Quebec, and filed a registration statement with the United States Securities and Exchange Commission on Form F-3. Once the shelf prospectus is cleared and the shelf registration statement becomes effective, these filings would, subject to securities regulatory requirements and limitations, provide for the potential offering of up to an aggregate of US$30 million of the Company's common shares, preference shares, warrants and subscription receipts, or any combination thereof, from time to time in one or more offerings over a 25-month period. This shelf prospectus is intended to give Intellipharmaceutics the flexibility to take advantage of financing opportunities when, and if, market conditions are favorable to the Company. The specific terms of such future offerings, if any, would be established, subject to the approval of the Company's Board of Directors, at the time of such offering and will be described in detail in a prospectus supplement filed at the time of any such offering.
