Bradmer announces proposed private placement
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/
TORONTO, July 5 /CNW/ - Bradmer Pharmaceuticals Inc. (NEX: BMR.H) ("Bradmer" or the "Corporation") announced today that it intends to complete a private placement of up to 5,263,157 common shares at a price of $0.095 per share, for aggregate gross proceeds to the Corporation of up to $500,000.00 (the "Offering").
The proceeds of the Offering will be used primarily for general corporate purposes. Completion of the financing is subject to the approval of the NEX Board of the TSX Venture Exchange (the "NEX"). The common shares issued pursuant to the Offering will be subject to a hold period expiring four months and one day after the closing date of the Offering.
It is anticipated that the closing of the Offering will occur on or around July 28, 2010.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding a proposed offering, including the proposed use of proceeds of the offering, and the proposed listing of the common shares on the NEX. Actual developments may differ materially from those contemplated by these statements depending upon, among other things, the ability of the Corporation to raise the funds and decisions made by securities regulators or stock exchanges. The forward looking statements contained in this press release represent the Corporation's views and expectations as of the date of this release and should not be relied upon as representing its views and expectations at any subsequent date.For further information: Dr. Alan Ezrin, President and Chief Executive Officer of Bradmer, at (305) 929-3125