VANCOUVER,
Jan. 21, 2014 /PRNewswire/ - iCo
Therapeutics Inc. ("iCo" or the "Company") (TSXV: ICO) (OTCQX:
ICOTF) announced today that it has undertaken an overnight marketed
public offering (the "Offering") of units (the "Units"), comprised
of common shares of the Company and common share purchase warrants
(a "Warrant"). The Offering is to be effected in each of the
provinces of British Columbia,
Alberta and Ontario by way of a prospectus supplement to
iCo's base shelf prospectus dated July 3,
2012 and elsewhere on a private placement basis. Prior
to the Offering, iCo had 67,811,230 common shares issued and
outstanding. The number of Units to be distributed under the
Offering, the price of each Unit and the exercise price of each
Warrant will be determined in the context of the market.
The Company expects to close the Offering during
the week of January 27, 2014, subject
to satisfaction of customary closing conditions, including, but not
limited to, the receipt of all necessary regulatory and stock
exchange approvals, such as the final approval of the TSX Venture
Exchange.
The securities described herein 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 accordingly, may not be offered or sold to, or
for the account or benefit of, persons in the United States or "U.S. persons," as such
term is defined in Regulation S promulgated under the U.S.
Securities Act ("U.S. Persons"), except in compliance with the
registration requirements of the U.S. Securities Act and applicable
state securities requirements or pursuant to exemptions
therefrom. This press release does not constitute an offer to
sell or a solicitation of an offer to buy any of the Company's
securities to, or for the account of benefit of, persons in
the United States or U.S.
Persons.
About iCo Therapeutics
iCo Therapeutics in-licenses and redefines existing drug candidates
or generics by employing reformulation and delivery technologies
for new or expanded use indications. The Company has exclusive
worldwide rights to two drug candidates - iCo-007 for Diabetic
Macular Edema (DME) and iCo-008 for other sight-threatening
diseases. iCo-007 is in Phase 2 clinical studies for DME. With
Phase 2 clinical history, iCo-008 is targeted for the treatment of
keratoconjunctivitis and wet age-related macular degeneration. In
addition, iCo holds worldwide rights to an oral drug delivery
platform. The first platform candidate is the Oral Amp B Delivery
system, utilizing a known anti-fungal drug to treat
life-threatening infectious diseases. iCo trades on the TSX Venture
Exchange under the symbol "ICO" and the OTCQX under the symbol
"ICOTF". For more information, visit the Company website at:
www.icotherapeutics.com.
No regulatory authority has approved or
disapproved the content of this release. Neither the TSX Venture
Exchange nor its Regulatory 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.
Forward Looking Statements
Certain statements included in this press release may be
considered forward-looking statements" within the meaning of
applicable securities laws. Forward-looking statements can be
identified by words such as: "anticipate," "intend," "plan,"
"goal," "seek," "believe," "project," "estimate," "expect,"
"strategy," "future," "likely," "may," "should," "will," and
similar references to future periods and includes, but is not
limited to, statements about the timing of the closing of the
Offering, the satisfaction and timing of the receipt of required
regulatory approvals and other conditions to closing of the
Offering and the jurisdictions in which the Units will be offered.
Such statements involve known and unknown risks, uncertainties and
other factors that may cause actual results, performance or
achievements to be materially different from those implied by such
statements, and therefore these statements should not be read as
guarantees of future performance or results. All forward-looking
statements are based on iCo's current beliefs as well as
assumptions made by and information currently available to iCo and
relate to, among other things, anticipated financial performance,
business prospects, strategies, regulatory developments, market
acceptance and future commitments. Readers are cautioned not to
place undue reliance on these forward-looking statements, which are
based only on information currently available to iCo and speak only
as of the date of this press release. Due to risks and
uncertainties, including the risks and uncertainties identified by
iCo in its public securities filings and on its website, actual
events may differ materially from current expectations. iCo
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
SOURCE iCo Therapeutics Inc.
