NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES
July 5, 2012, Vancouver, Canada—iCo Therapeutics Inc. (“iCo” or “the Company”) (TSX-V: ICO), announced today that Euro Pacific Canada Inc. (“Euro Pacific”) has carried out the Overnight Marketed Offering (the “Offering”) announced yesterday and confirmed $2,553,899.40 in demand for equity units (“Units”), representing 5,675,332 Units at a price of $0.45 per unit, whereby each Unit includes one common share plus one common share purchase warrant (“Warrant”). Each Warrant is exercisable at a price of $0.60 for a period of 2 years from the closing of the Offering. Euro Pacific will be paid a cash commission of 8% on gross proceeds plus 8% compensation options. Each compensation option shall be exercisable on the same terms as the Units in the Offering. The Offering is to be effected in each of the Canadian provinces of British Columbia, Alberta and Ontario by way of a prospectus supplement to iCo’s base shelf prospectus dated July 3, 2012. Prior to the Offering, iCo had 46,644,401 common shares issued and outstanding.
The Offering is scheduled to close on or about July 13, 2012, subject to satisfaction of customary closing conditions, including the receipt of all necessary regulatory and stock exchange approvals.
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 within the United States 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 in the United States.
About iCo Therapeutics
iCo Therapeutics Inc. is a Vancouver-based reprofiling company focused on redosing or reformulating drugs with clinical history for new or expanded indications. iCo has exclusive worldwide rights to three products: iCo-007, in Phase 2 for the treatment of Diabetic Macular Edema (DME), iCo-008 (Bertilimumab), a product with Phase 2 clinical history to be developed for sight threatening diseases; and an oral Amphotericin B delivery system for life-threatening infectious diseases. Immune Pharmaceuticals licensed systemic rights to iCo-008 in June 2011. iCo trades on the TSX Venture Exchange under the symbol “ICO”. For more information, visit the Company website at: icotherapeutics.cdmail.biz.
No regulatory authority has approved or disapproved the content of this release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain statements included in this press release may be considered forward-looking. 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 Therapeutics’ current beliefs as well as assumptions made by and information currently available to iCo Therapeutics 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 speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by iCo Therapeutics in its public securities filings; actual events may differ materially from current expectations. iCo Therapeutics disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.