TORONTO, July 25, 2014 /CNW/ - Mr. Eugene Melnyk announced today that he has sold 200,000 common shares of Trimel Pharmaceuticals Corporation (TSX: TRL) ("Trimel") through the facilities of the Toronto Stock Exchange, representing approximately 0.12% of the outstanding shares of Trimel. Following this sale, Mr. Melnyk owns 34,410,783 common shares, representing approximately 21.1% of the outstanding common shares of Trimel (or 17.9% assuming completion of Trimel's private placement of 28,801,000 shares announced on July 17, 2014).
The shares were sold pursuant to the exemption from the prospectus requirement set out in section 2.8 of National Instrument 45-102 – Resale of Securities. Mr. Melnyk filed the associated Form 45-102F1 on SEDAR on July 17, 2014.
Pursuant to the Form 45-102F1, Mr. Melnyk may sell up to an additional 4,410,783 common shares of Trimel. If Mr. Melnyk were to dispose of all of these additional shares, he would own 30,000,000 common shares, representing approximately 18.4% of the outstanding common shares of Trimel (or 15.6% assuming completion of the aforementioned private placement).
Depending on market conditions and other factors, Mr. Melnyk may from time to time acquire or dispose of additional securities of Trimel in the open market, by private agreement or otherwise.
In connection with this news release, an early warning report will be filed by Mr. Melnyk in accordance with applicable securities laws. A copy of that early warning report will be available on SEDAR at www.sedar.com and can be obtained from:
SOURCE: Eugene Melnyk
For further information: Ken Villazor, 25 Metcalfe Street, Toronto, ON, M4X 1R5, Phone: 416-200-7641