Appili Therapeutics Announces Filing of Final Prospectus
HALIFAX, Nova Scotia, June 13, 2019 – Biopharmaceutical company Appili Therapeutics Inc. ("Appili" or the "Company") today announces that it has filed and obtained a receipt for its final prospectus (the “Prospectus”) in connection with its $3.6 million special warrant offering (the “Offering”) that closed in multiple tranches during the period commencing on November 21, 2018 and ending on March 19, 2019. The Offering was led by Mackie Research Capital Corporation and included Echelon Wealth Partners Inc. and Bloom Burton Securities Inc.
The Prospectus qualifies the distribution of 3,257,665 Class A common shares of Appili (the “Common Shares”) issuable for no additional consideration upon the exercise or deemed exercise of special warrants of the Company (the “Special Warrants.”) The Special Warrants were issued under, and are governed by, the terms and conditions of a special warrant indenture dated November 21, 2018, as amended on May 3, 2019, between Computershare Trust Company of Canada and the Company.
As a result of obtaining the receipt for the Prospectus, all unexercised Special Warrants will be deemed to be automatically exercised on June 17, 2019 without any further action on the part of the holders.
A copy of the Prospectus is available on SEDAR at www.sedar.com.
Appili has received conditional approval from the TSX Venture Exchange (the “TSXV”) for the listing of the Common Shares on the TSXV, subject to the completion of customary requirements of the TSXV, including the receipt of all required documentation. Following receipt of final approval from the TSXV, the Common Shares will commence trading on the TSXV under the symbol “APLI”.
No securities regulatory authority has either approved or disapproved the contents of this news release. The Common Shares 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. Accordingly, the Common Shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any securities of Appili in any jurisdiction in which such offer, solicitation, or sale would be unlawful.
About Appili Therapeutics
Appili was founded to advance the global fight against infectious disease by matching clearly defined patient needs with drug development programs that provide solutions to existing challenges patients, doctors, and society face in this challenging disease space. Appili has built a pipeline of assets designed to address a broad range of significant unmet medical needs in the infectious disease landscape. This diverse pipeline aims to address some of the most urgent threats to global public health. Via an in-licensing program, Appili acquired the rights to ATI-1701, a vaccine for tularemia, being developed to mitigate the risks of a very serious biological weapons threat. ATI-1503 is a drug discovery program aimed at generating negamycin analogue candidates, which are a novel class of antibiotics with broad-spectrum activity against Gram-negative superbugs. ATI-1501 employs Appili’s proprietary, taste-masked, oral-suspension technology with the marketed antibiotic metronidazole for the growing number of patients with difficulty swallowing. Headquartered in Halifax, Nova Scotia, with offices in Mississauga, Ontario, Appili is pursuing worldwide opportunities in collaboration with science and industry commercial partners, governments, and government agencies.
Certain information in this press release contains forward-looking statements. Such statements include but are not limited to the Company’s intention to list the Common Shares on the TSXV. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the risk that the Company may not be able to secure a listing on the TSXV and certain other risk factors set out under the heading “Risk Factors” in the Prospectus. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by securities laws applicable to the Company.
Neither the TSXV, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.
Media Relations Contacts:
Andrea Cohen, Sam Brown Inc.
Director, Communications and Outreach
Atlantic Canada Opportunities Agency
902-426-9417 / 902-830-3839 (cell)
Investor Relations Contact:
Kimberly Stephens, CFO