NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
QUEBEC CITY, Dec. 2, 2015 /CNW Telbec/ - Opsens Inc. ("Opsens" or the "Corporation") (TSXV: OPS) (OTCQX: OPSSF) is pleased to announce that it has filed a preliminary short form prospectus in connection with a proposed marketed offering of units (the "Units") of the Corporation (the "Offering"). The Offering will be conducted on a best effort basis through Paradigm Capital Inc. ("Paradigm"), acting as lead agent, and including RBC Dominion Securities Inc. and M Partners Inc. (collectively with Paradigm, the "Agents").
Each Unit consists of one common share in the capital of Opsens and one-half of one common share purchase warrant, with each whole common share purchase warrant entitling the holder thereof to purchase one common share of the Corporation within 18 months from the closing date of the Offering.
The Corporation has also agreed to grant the Agents an option to cover over-allotments and for market stabilization purposes (the "Over Allotment Option"), which will allow the Agents to arrange for purchasers to acquire up to 15% of the number of Units sold under the Offering. The Over Allotment Option will be exercisable, in whole or in part, at any time up to 30 days after the closing of the Offering.
The Corporation intends to use the net proceeds of the Offering to prepare the commercialization and marketing strategy of its Fractional Flow Reserve ("FFR") products, to fund research and product development and to fund its working capital.
The Offering is being made pursuant to a short form prospectus filed in each of the provinces of Québec, Ontario, Alberta and British Columbia. A copy of the preliminary short form prospectus is available on SEDAR at www.sedar.com.
The Offering will be priced in the context of the market with the final terms of the Offering to be determined at the time of pricing. The Offering is expected to close on or about December 22, 2015 and is subject to certain customary conditions and regulatory approvals, including the approval of the TSX Venture Exchange and the entering into by the Corporation and the Agents of an agency agreement.
This press release does not constitute an offer of securities for sale in the United States or to "U.S. persons" ("U.S. persons"), as such term is defined in Regulation S promulgated under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.
About Opsens Inc. (www.opsens.com or www.opsensmedical.com)
Opsens focuses mainly on the measure of FFR in interventional cardiology. Opsens offers an advanced optical‑based pressure guidewire (OptoWire) that aims at improving the clinical outcome of patients with coronary artery disease. Opsens is also involved in industrial activities. The Corporation develops, manufactures and installs innovative fibre optic sensing solutions for critical applications such as the monitoring of oil wells and other demanding industrial applications.
Except for historical information, this press release may contain "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws that reflect the Corporation's current expectation regarding future events, including, without limitation, the proposed use of the net proceeds and the timing and completion of the Offering. Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Opsens to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements. The Corporation expressly disclaims any intention to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise, other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE OPSENS INC.
For further information: Thierry Dumas, CPA, CA, Chief Financial Officer, 418.682.9996, Louis Laflamme, CPA, CA, President and Chief Executive Officer, 418.682.9996