TORONTO, March 11, 2016 /CNW/ - Thomvest Asset Management Inc. ("Thomvest") today filed an initial report of its ownership of common shares and warrants of ProMetic Life Sciences Inc. (the "Corporation") pursuant to OSC Rule 62-504 and corresponding provisions of applicable securities laws in other Canadian jurisdictions.
On February 29, 2016, the Corporation issued warrants to acquire an aggregate 11,793,380 common shares of the Corporation (the "New Warrants") to Structured Alpha LP, a limited partnership of which Thomvest is the sole general partner, in connection with the Third Amended and Restated Loan Agreement originally dated as of September 10, 2013, as amended and restated on July 31, 2014, March 31, 2015 and February 29, 2016 between Structured Alpha LP, as lender, and the Corporation, as borrower, and certain subsidiaries of the Corporation (the "Loan Agreement"). The New Warrants were issued to Thomvest in conjunction with a $30,000,000 loan under the Loan Agreement pursuant to the prospectus exemption contained in Section 2.3 (Accredited Investor) of National Instrument 45-106 of the Canadian Securities Administrators.
Following this transaction, Structured Alpha LP holds warrants to acquire an aggregate of 56,793,782 common shares of the Corporation, together with 7,202,998 common shares of the Corporation. The warrants may be exercised in whole or in part at Structured Alpha's option until July 31, 2022, at exercise prices ranging from $0.52 to $4.70 per common share. As of February 29, 2016, the Corporation had 581,013,643 common shares outstanding. If all of the warrants that it holds were exercised, Structured Alpha LP would hold an aggregate of 63,996,780 common shares of the Corporation, or approximately 10.03% of the outstanding common shares after giving effect to such exercise.
All of the warrants held by Structured Alpha LP have been issued in connection with the Loan Agreement, or its predecessor agreements. Copies of these predecessor agreements are available on the Corporation's SEDAR profile at www.sedar.com.
As the sole general partner of Structured Alpha LP, Thomvest will be considered to beneficially own and exercise control or direction over the securities held by Structured Alpha LP, and Thomvest and Structured Alpha LP will be considered joint actors for purposes of applicable securities laws.
Structured Alpha LP holds the common shares and warrants of the Corporation for investment purposes. As the general partner of Structured Alpha LP, Thomvest continually reviews investment alternatives and may purchase or sell securities of the Corporation from time to time in accordance with applicable laws.
SOURCE Thomvest Asset Management Inc.
For further information: Thomvest Asset Management Inc., Structured Alpha LP, 65 Queen Street West, Suite 2400, Toronto, Ontario, M5H 2M8