Toronto Stock Exchange Symbol: LRI
LAVAL, QC, Aug. 14 /CNW Telbec/ - LAB Research Inc. ("LAB Research" or
the "Company") (TSX: LRI), a Canadian-based global non-clinical contract
research organization, today announced that it has filed its final short form
prospectus (the "Prospectus") in respect of the distribution to its existing
shareholders of rights exercisable to purchase additional common shares of the
Company (the "Rights Offering"), for maximum gross proceeds of approximately
All shareholders of record of LAB Research common shares as of the close
of trading on August 27, 2009 ("Record Date"), in each provinces of Canada
will receive 1 (one) right for each common share held. Residents of other
jurisdictions may also be able to participate subject to certain conditions
described in the Prospectus. Each right will entitle the holder to purchase
2.1 common shares of the Company at a price of $ 0.41 per share. The
Prospectus, along with rights certificates will be mailed to eligible holders
starting September 1, 2009.
"We have disclosed earlier today strong second quarter 2009 results which
we believe will set the stage for important commercial and financial gains in
the quarters ahead. We are happy to take this additional step to finally put
an end to the market concerns regarding our financial situation. We look
forward to closing a fully subscribed Rights Offering." commented Luc
Mainville, President and Chief Executive Officer of LAB Research.
The rights will be listed on the TSX under the symbol "LRI.RT" subject to
the Company fulfilling all of the listing requirements. The rights may be
traded commencing August 25, 2009 and will expire on September 25, 2009, (the
"Expiry Date"), at 5.00 pm. Holders of rights who fully exercise their rights
under the proposed Rights Offering will be entitled to purchase on a pro rata
basis additional common shares, if available, and not otherwise subscribed by
other shareholders, on or before the Expiry Date.
Further details regarding the final prospectus and the procedures to be
followed by holders can be found in the prospectus available on LAB Research's
SEDAR profile at www.sedar.com.
About LAB Research Inc.:
LAB Research is a Canadian global non-clinical contract research
organization that provides contract research services to the pharmaceutical,
biotechnology, agro-chemical, petro-chemical and industrial markets. LAB
Research supports the development of its customers' products from three
state-of-the-art facilities located in Canada, Denmark and Hungary.
LAB Research's shares trade on the TSX under the symbol "LRI", with 18.1
million shares outstanding.
This news release contains certain forward-looking statements that
reflect the current views and/or expectations of LAB Research Inc. with
respect to its performance, business and future events. Such statements are
subject to a number of risks, uncertainties and assumptions. Actual results
and events may vary significantly.
For further information:
For further information: visit LAB Research's website at
www.labresearch.com, or contact: Luc Mainville, Chief Executive Officer, (450)
973-2240 (ext. 1206), firstname.lastname@example.org; Frédéric Dumais, Partner,
Jasmin-Dumais Financial Communications, (514) 862-1251, email@example.com