CALGARY, July 24 - SemBioSys Genetics Inc. ("SemBioSys" or the "Corporation") today announced that it has completed its previously announced public offering (the "Offering") of 11,865,341 units ("Unit") at a price of $0.35 per Unit (the "Offering Price") for total gross proceeds to SemBioSys of $4,152,869.35. SemBioSys intends to use the net proceeds of the Offering to fund the ongoing development of its Apo AIMilano and Biosimilar Insulin programs.
Each Unit is comprised of one common share of the Corporation ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share for 36 months after the closing of the Offering at a price of $0.55 per Common Share.
The Offering was led by Acumen Capital Finance Partners Limited and PI Financial Corp. (the "Agents"). SemBioSys has granted the Agents compensation options equal to 6.0% of the number of Units sold under the Offering. Each compensation option will entitle an Agent to purchase one Unit until July 24, 2011 at the Offering Price of $0.35.
SemBioSys may hold one or more additional closings until the earlier of the maximum offering being subscribed for or August 19, 2009.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, a person in the United States or a "U.S. person" (as defined in Regulation S under the U.S. Securities Act) except in transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.
About SemBioSys
SemBioSys is a biotechnology company that is using its proprietary technology to develop high-value proteins (including protein-based pharmaceuticals) and nutritional and industrial oils. Our lead pharmaceutical candidates, produced in the plant host safflower, are Apo AIMilano, a potential next generation cardiovascular drug, and recombinant, Biosimilar Insulin to serve the rapidly expanding global diabetes market. We have also demonstrated our platform's applicability in the production of non-pharmaceutical proteins and oils. SemBioSys continues to evaluate opportunities where its proprietary platform technology offers a unique competitive advantage to the production and manufacture of difficult to produce proteins and oils. More information is available at www.sembiosys.com. The contents of this website are expressly not incorporated into this press release by reference.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "will", "intend", "expect" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, the use of the net proceeds of the Offering, the distribution of the Units after the initial closing of the Offering, the fact that Apo AIMilano is currently a development stage drug and other risks detailed from time-to-time in the Company's ongoing filings with the Canadian securities regulatory authorities which filings can be found at www.sedar.com. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
Each Unit is comprised of one common share of the Corporation ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share for 36 months after the closing of the Offering at a price of $0.55 per Common Share.
The Offering was led by Acumen Capital Finance Partners Limited and PI Financial Corp. (the "Agents"). SemBioSys has granted the Agents compensation options equal to 6.0% of the number of Units sold under the Offering. Each compensation option will entitle an Agent to purchase one Unit until July 24, 2011 at the Offering Price of $0.35.
SemBioSys may hold one or more additional closings until the earlier of the maximum offering being subscribed for or August 19, 2009.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, a person in the United States or a "U.S. person" (as defined in Regulation S under the U.S. Securities Act) except in transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.
About SemBioSys
SemBioSys is a biotechnology company that is using its proprietary technology to develop high-value proteins (including protein-based pharmaceuticals) and nutritional and industrial oils. Our lead pharmaceutical candidates, produced in the plant host safflower, are Apo AIMilano, a potential next generation cardiovascular drug, and recombinant, Biosimilar Insulin to serve the rapidly expanding global diabetes market. We have also demonstrated our platform's applicability in the production of non-pharmaceutical proteins and oils. SemBioSys continues to evaluate opportunities where its proprietary platform technology offers a unique competitive advantage to the production and manufacture of difficult to produce proteins and oils. More information is available at www.sembiosys.com. The contents of this website are expressly not incorporated into this press release by reference.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "will", "intend", "expect" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, the use of the net proceeds of the Offering, the distribution of the Units after the initial closing of the Offering, the fact that Apo AIMilano is currently a development stage drug and other risks detailed from time-to-time in the Company's ongoing filings with the Canadian securities regulatory authorities which filings can be found at www.sedar.com. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
