Lorus Files Final Prospectus for $40 Million Bought Deal
TORONTO--(BUSINESS WIRE)--April 24, 2000--Lorus Therapeutics Inc. (``Lorus'') today announced that it has filed a final short form prospectus in respect of a previously announced bought deal. The size of the offering is 13,333,334 Common Shares at a price per share of $3.00 for gross proceeds of $40 million. Lorus has granted the underwriters an option to purchase up to 2,000,000 additional Common Shares at $3.00 per share to cover over-allotments and for market stabilization purposes, which may be exercised for a 30 day period after closing of the offering. Closing is expected on or about May 2, 2000. The syndicate of underwriters is being led by HSBC Securities (Canada) Inc. and includes Yorkton Securities Inc., TD Securities Inc. and Dominick & Dominick Securities Inc.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state in which such an offer, solicitation or sale would be unlawful.
Lorus is a biopharmaceutical company focused on the research and development of cancer therapies. Lorus' goal is to capitalize on its research, pre-clinical, clinical and regulatory expertise by developing new drug candidates that can be used, either alone, or in combination, to successfully manage cancer. Through an active acquisition and in-licensing program, Lorus is building a portfolio of promising anti-cancer drugs. Late-stage clinical development and marketing will be done in cooperation with strategic pharmaceutical partners. Founded in 1986, Lorus Therapeutics Inc. is a public company listed on the Toronto Stock Exchange under the symbol LOR, and on the NASDAQ OTC BB exchange under the symbol LORFF.
Except for historical information, this press release contains forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time-to-time in the Company's ongoing quarterly filings, annual reports and 20-F filings.
Lorus Therapeutics Inc.'s press releases are available through the Company's Internet site: www.lorusthera.com.
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Contact:
Investor Relations Exchange
Mimi Choi, 416/599-6152 (IR)
Fax: 416/599-8429
mchoi@mcipr.com or ir@lorusthera.com
or
Mansfield Communications Inc.
Julija Hunter or Pereina Choudhury, 416/599-0024 (MR)
Fax: 416/599-7484
jhunter@mcipr.com or pchoudhury@mcipr.com |
