TORONTO, ONTARIO--(Marketwire - July 17, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Trimel Pharmaceuticals Corporation (TSX:TRL.TO - News) (the "Corporation") is pleased to announce that it has closed its previously announced public offering (the "Offering"), for aggregate gross proceeds of $13,245,750.
In connection with the Offering, the Corporation issued 7,569,000 units ("Units") of the Corporation at a price of $1.75 per Unit. Each Unit consists of one common share of the Company ("Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles the holder to purchase one Common Share at an exercise price of $2.50 until January 17, 2015.
The Offering was completed by a syndicate of underwriters led by RBC Dominion Securities Inc. and including GMP Securities L.P.
The Company intends to use the net proceeds from the sale of Units to pay for the costs of the clinical trials for its CompleoTRT(TM) and Tefina(TM) products and for general corporate purposes. This press release does not constitute an offer of securities for sale in the United States or to "U.S. persons" ("U.S. persons"), as such term is defined in Regulation S promulgated under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.
Trimel Pharmaceuticals Corporation (TSX:TRL.TO - News) - Developing Medications for Female Sexual Health and conditions related to Aging, and Well Being. Trimel is developing multiple product opportunities, including CompleoTRT(TM), a bio-adhesive intranasal Testosterone gel for the treatment of male hypogonadism, a condition commonly referred to as "Low T". For more information, please visit www.trimelpharmaceuticals.com.
For further information regarding Trimel Pharmaceuticals Corporation, please contact either Bruce Brydon, Chairman of the Board and Chief Executive Officer at (416) 679-0711 or Kenneth Howling, Chief Financial Officer at (416) 679-0536 or via email at email@example.com.
Forward Looking Statements
Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, are assumptions regarding our future operational results. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual performance of the Company is subject to a number of risks and uncertainties, and could differ materially from what is currently expected as set out above. For more exhaustive information on these risks and uncertainties you should refer to our short form prospectus dated July 11, 2012 and our annual information form dated March 9, 2012 which are both available at www.sedar.com. Forward-looking information contained in this press release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time, whether as a result of new information, future events or otherwise, except as required by applicable securities law.
Trimel Pharmaceuticals Corporation
Chairman of the Board and Chief Executive Officer
Kenneth G. Howling
Trimel Pharmaceuticals Corporation
Chief Financial Officer