/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN
THE UNITED STATES/
VANCOUVER, July 5, 2012 /CNW/ - iCo Therapeutics Inc. ("iCo" or "the
Company") (TSX-V: ICO), announced today that Euro Pacific Canada Inc.
("Euro Pacific") has carried out the Overnight Marketed Offering (the
"Offering") announced yesterday and confirmed $2,553,899.40 in demand
for equity units ("Units"), representing 5,675,332 Units at a price of
$0.45 per unit, whereby each Unit includes one common share plus one
common share purchase warrant ("Warrant"). Each Warrant is exercisable
at a price of $0.60 for a period of 2 years from the closing of the
Offering. Euro Pacific will be paid a cash commission of 8% on gross
proceeds plus 8% compensation options. Each compensation option shall
be exercisable on the same terms as the Units in the Offering. The
Offering is to be effected in each of the Canadian provinces of British
Columbia, Alberta and Ontario by way of a prospectus supplement to
iCo's base shelf prospectus dated July 3, 2012. Prior to the Offering,
iCo had 46,644,401 common shares issued and outstanding.
The Offering is scheduled to close on or about July 13, 2012, subject to
satisfaction of customary closing conditions, including the receipt of
all necessary regulatory and stock exchange approvals.
The securities described herein 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
accordingly, may not be offered or sold within the United States except
in compliance with the registration requirements of the U.S. Securities
Act and applicable state securities requirements or pursuant to
exemptions therefrom. This press release does not constitute an offer
to sell or a solicitation of an offer to buy any of the Company's
securities in the United States.
About iCo Therapeutics
iCo Therapeutics Inc. is a Vancouver-based reprofiling company focused
on redosing or reformulating drugs with clinical history for new or
expanded indications. iCo has exclusive worldwide rights to three
products: iCo-007, in Phase 2 for the treatment of Diabetic Macular
Edema (DME), iCo-008 (Bertilimumab), a product with Phase 2 clinical
history to be developed for sight threatening diseases; and an oral
Amphotericin B delivery system for life-threatening infectious
diseases. Immune Pharmaceuticals licensed systemic rights to iCo-008 in
June 2011. iCo trades on the TSX Venture Exchange under the symbol
"ICO". For more information, visit the Company website at: www.icotherapeutics.com.
No regulatory authority has approved or disapproved the content of this
release. The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of this release.
Forward Looking Statements
Certain statements included in this press release may be considered
forward-looking. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from those
implied by such statements, and therefore these statements should not
be read as guarantees of future performance or results. All
forward-looking statements are based on iCo Therapeutics' current
beliefs as well as assumptions made by and information currently
available to iCo Therapeutics and relate to, among other things,
anticipated financial performance, business prospects, strategies,
regulatory developments, market acceptance and future commitments.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Due to risks and uncertainties, including the risks and
uncertainties identified by iCo Therapeutics in its public securities
filings; actual events may differ materially from current expectations.
iCo Therapeutics disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE iCo Therapeutics Inc.
For further information:
Mr. John Meekison, CFO
604-602-9414 x 224
Michael Moore, Investor Relations
Shaun Smith, Media Relations
David Waldman/Klea Theoharis