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Gold/Mining/Energy : Nuvo Research Inc

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From: Cal Gary10/28/2004 3:58:32 PM
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Dimethaid arranging offering of $1,000 units

2004-10-28 14:09 ET - News Release

Ms. Jodi Peake reports

DIMETHAID ANNOUNCES FILING OF PRELIMINARY PROSPECTUS

Dimethaid Research Inc. has filed a preliminary short form prospectus relating to an offering of units of Dimethaid at a price of $1,000 per unit in each of the provinces of Canada, except Quebec.

Each unit will consist of one 5-per-cent convertible unsecured debenture in the principal amount of $1,000 due five years from the closing date, plus common share purchase warrants. The offering is being underwritten on a best-efforts basis by a syndicate of underwriters led by Research Capital Corp. and includes McFarlane Gordon Inc. The specific terms of the offering will be determined at the completion of marketing.

Dimethaid intends to use the net proceeds from the offering for restructuring and severance costs, to repay current obligations, and for clinical trials and general corporate purposes.

The company also filed revised interim financial statements for the period ended Aug. 31, 2004, to update the notes to the statements. The notes now take into account certain subsequent events that have occurred since the original filing of the first quarter statements, as released in Stockwatch on Sept. 20, 2004.

WARNING: The company relies upon litigation protection for "forward-looking" statements.
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Prospectus
sedarfiles.stockwatch.com
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