/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
TSX symbol: SBSCALGARY, June 16 /CNW/ - SemBioSys Genetics Inc. (TSX:SBS) ("SemBioSys"
or the "Corporation") today announced it has filed a preliminary short form
prospectus in all Provinces of Canada, except Quebec (the "Qualifying
Provinces") in connection with an offering of a minimum of 8,572,000 units
("Unit") at a price of $0.35 per Unit (the "Offering Price") for gross
proceeds of $3,000,200 and up to 21,429,000 Units for gross proceeds of
Each Unit is comprised of one common share of the Corporation ("Common
Share") and one Common Share purchase warrant ("Warrant"). Each Warrant will
entitle the holder to purchase one Common Share for 36 months after the
closing of the Offering at a price of $0.55 per Common Share.
A syndicate, led by Acumen Capital Finance Partners Limited, and
including PI Financial Corp. (the "Agents"), will act as agents in connection
with the Offering. The closing of the Offering is expected to occur on or
about July 6, 2009, and is subject to usual regulatory approvals. SemBioSys
intends to use the net proceeds of the Offering to fund the ongoing
development of its Apo AI Milano and Biosimilar Insulin programs.
The Common Shares and Warrants to be issued under the Offering are to be
qualified for distribution in the Qualifying Provinces and such other
jurisdictions as may be agreed to by the Company and the Agents.
This press release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
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 may not be offered or sold within the United States or to, or for
the account or benefit of, a person in the United States or a "U.S. person"
(as defined in Regulation S under the U.S. Securities Act) except in
transactions exempt from the registration requirements of the U.S. Securities
Act and applicable state securities laws.
Calgary, Alberta-based SemBioSys is a world leader in manufacturing
high-value proteins and oils in plant seeds. With its unique proprietary
platform, SemBioSys provides partners with product enablement, exceptionally
low cost and unprecedented scalability. The Company applies this platform with
high selectivity to opportunities where it has a unique competitive advantage.
Since its inception, SemBioSys has produced more than 50 non-native proteins
and oils using its patented seed technology, demonstrating applicability
across a broad range of industries such as pharmaceuticals, personal care and
industrial products. The Company's current pharmaceutical development programs
include insulin (SBS-1000, regulated as a biosimilar in Europe) and Apo
AIMilano, a next-generation cardiovascular therapy. SemBioSys is listed on the
Toronto Stock Exchange under the ticker SBS. More information is available at
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words "believe",
"may", "plan", "will", "estimate", "continue", "anticipate", "intend",
"expect" and other similar expressions which constitute "forward-looking
information" within the meaning of applicable securities laws. Forward-looking
statements reflect the Company's current expectation and assumptions, and are
subject to a number of risks and uncertainties that could cause actual results
to differ materially from those anticipated. These forward-looking statements
involve risks and uncertainties including, but not limited to, changing market
conditions and market size, the acceptance of an IND by the FDA in respect of
clinical studies, the submission of a CTA to the appropriate European
authorities, the successful initiation and timely and successful completion of
clinical studies, the fact that Apo AIMilano is currently a development stage
drug, 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 filings with the Canadian securities regulatory authorities
which filings can be found at www.sedar.com. Given these risks and
uncertainties, readers are cautioned not to place undue reliance on such
forward-looking statements. The Company undertakes no obligation to publicly
update or revise any forward-looking statements either as a result of new
information, future events or otherwise, except as required by applicable
Canadian securities laws.
For further information: SemBioSys Genetics Inc., Abby Garfunkel,
Investor Relations, Phone: (403) 717-4185, E-mail: firstname.lastname@example.org;
The Equicom Group Inc., Ross Marshall, Vice President, Phone: (416) 815-0700
ext. 238, E-mail: email@example.com