pcNewsWire – Pediapharm Inc. (TSX-V: PDP) has closed its previously announced non-brokered private placement of 14,705,883 units at $0.34 per unit for gross proceeds of $5,000,000 with 9346-4626 Québec Inc., a private company operating as Transican, and owned by Gerard Leduc, a globally known pharmaceutical executive.
As a result of the offering, Gerard Leduc is a new insider as a holder of more than 10% of the issued and outstanding common shares.
Gross proceeds will be used to secure new business opportunities as well as to accelerate the growth of the Company’s recently launched products namely, Rupall™ and Otixal™.
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TSX Venture: PDP FOR IMMEDIATE RELEASE
PEDIAPHARM COMPLETES PRIVATE PLACEMENT OF UNITS FOR $5,000,000
MONTREAL, QUEBEC – July 4, 2017 – Pediapharm Inc. (the “Company” or “Pediapharm”) is pleased to announce it has closed its previously announced non-brokered private placement (the “Offering”) of units of the Company (the “Units”), which was previously held in trust.
Pursuant to the Offering, 9346-4626 Québec Inc., a private company operating as Transican (the “Subscriber”) subscribed for 14,705,883 Units at a price of $0.34 per Unit, for aggregate proceeds to the Company of $5,000,000. The Subscriber is owned by Mr. Gerard Leduc, a globally known pharmaceutical executive.
Each Unit is comprised of one (1) common share in the capital of the Company (a “Common Share”) and one-half (1/2) of one common share purchase warrant of the Company (a “Warrant”). Each whole Warrant entitles the Subscriber to purchase one (1) Common Share at a price of $0.51 per share until May 24, 2020. No commissions or fees were paid in connection with the Offering.
The gross proceeds of this Offering will be used to secure new business opportunities as well as to accelerate the growth of the Company’s recently launched products namely, Rupall™ and Otixal™.
As a result of the Offering, the Subscriber is a new insider of the Company as a holder of more than 10% of the issued and outstanding Common Shares.
Completion of the Offering is subject to the final approval of the TSX Venture Exchange. Pursuant to applicable securities laws, all securities issued pursuant to the Offering are subject to a hold period of four months plus one day following the closing of the Offering.
About Pediapharm Inc.
Pediapharm is the only Canadian specialty pharmaceutical company dedicated to serving the needs of the pediatric community. Its mission is to bring to the Canadian market the latest innovative pediatric products with the objective to improve the health and the well-being of children in Canada. Since its debut in 2008, Pediapharm has entered into numerous commercial agreements with partners from Canada and other countries around the world. The Company’s innovative product portfolio includes NYDA®, a breakthrough treatment for head lice; EpiCeram®, a non-steroid emulsion for eczema; naproxen suspension, indicated to treat pain and inflammation due to various conditions, including Juvenile Idiopathic Arthritis; Rupall™, an innovative new allergy medication with a unique mode of action; Otixal™, the first and only antibiotic and steroid combination ear drop available in single, sterile, preservative-free and unit-dose packaging; and Cuvposa™, for severe drooling, which is under review with Health Canada.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sylvain Chretien, President and Chief Executive Officer
Tel.: 514-762-2626 ext. 201
Roland Boivin, Chief Financial Officer
Tel.: 514-762-2626 ext. 202
Direct Financial Strategies and Communication Inc.