Pediapharm Announces Extension of Debentures and Warrants
MONTREAL, QUEBEC–(Marketwired – Jan. 31, 2018) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Pediapharm Inc. (the “Company” or “Pediapharm”) (TSX VENTURE:PDP)(OTCQB:PDDPF) has proposed to amend its existing convertible secured debentures (the “Debentures”) and common share purchase warrants (“Warrants”) issued on March 30, 2015 with a maturity date of March 30, 2019 (the “Original Maturity Date”). The Company has already entered into agreements to extend $5,400,000 of the total Debentures issued to holders (“Holders’) in connection with the original private placement, to extend the maturity date by one year, until March 30, 2020 (the “New Maturity Date”).
The Company expects to enter into agreements with all of the Holders, representing an aggregate of $5,500,000 of Debentures. Any such extensions that are not approved by the individual Holders will remain subject to the original terms of the Debentures and shall mature on the Original Maturity Date.
In conjunction with the extension of the Debentures, the Company will also extend the maturity date of the aggregate 3,272,727 of the 3,333,333 underlying warrants (the “Warrants”), with the new expiry date to match the New Maturity Date.
The Debenture and Warrant extensions are subject to regulatory and TSX Venture Exchange approval.
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; Relaxa™, an osmotic laxative used to treat constipation; 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 chronic severe drooling, a condition affecting a significant proportion of cerebral palsy patients.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and other statements that are not historical, including statements pertaining to the management’s expectations of the use of proceeds and the expected timing of the required regulatory approvals. Such forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to vary materially from the results or events predicted in these forward-looking statements. As a result, investors are cautioned not to place undue reliance on these forward-looking statements.
The forward-looking statements contained in this news release are made as of the date of this release. Except as required by applicable law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking information reflects the current expectations or belief of the Corporation based on information currently available and such information is subject to a number of assumptions, risks and uncertainties including those described under the heading “Risk Factors” in the Company’s Annual Information Form (for the year ended March 31, 2016) available on SEDAR at www.sedar.com and other risks associated with being a specialty pharmaceutical company.
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.