PROMETIC RETAINS INVESTMENT BANK FOR STRATEGIC TRANSACTIONS
LAVAL, QUEBEC, CANADA – February 14, 2019 –
'Prometic Life Sciences Inc. (TSX: PLI, OTCQX: PFSCF) (“Prometic” or the “Corporation”) today announced that it has engaged Lazard to review and execute key strategic transactions for the Corporation focused on maximizing shareholder value. These transactions could include, among other things, the out-licensing of drug candidates and monetization of non-core assets.
Commenting on the proposed transactions, Simon Best, Prometic’s Chairman and Chief Executive Officer stated, “We have received significant interest in some of our assets to the point that it is appropriate to utilize the expertise of an experienced deal-making bank to execute these potential transactions. While we conduct this review, we will remain focused on delivering our business plan”.
Bruce Pritchard, Prometic’s Chief Operating Officer and Chief Financial Officer added, “Successful outcomes of these potential transactions will simplify our operations and strengthen the Prometic balance sheet. Furthermore, the assistance of Lazard will allow us to leverage their deal-making experience to ensure we maximize shareholder value in any potential deal”.
Bruce Wendel, Prometic’s Chief Business Development Officer stated, “Lazard has a world-class reputation with a strong track record in closing substantive transactions including several in the plasma biopharmaceutical space. We are delighted to be working with them on key potentially transformative projects”.
The Corporation has not set a timetable for this process, and there can be no assurance that a transaction will be entered into or consummated or, if a transaction is undertaken, as to its terms, structure or timing. The Corporation does not expect to make further public comment regarding these matters unless and until the Board has approved a specific transaction or otherwise concludes its review of strategic alternatives.' |
