Victhom Human Bionics Inc. completes a financing of CDN$12,363,105



    /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
    INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
    DISSEMINATION IN THE UNITED STATES/

    QUEBEC CITY, March 16 /CNW Telbec/ - Victhom Human Bionics Inc.
("Victhom") (TSX: VHB) is pleased to announce that it has completed a public
offering by way of short form prospectus of 35,323,156 units at a price of
$0.35 per unit for a total gross proceeds of $12,363,104.60. Each unit
consists of one common share of Victhom and one half of one common share
purchase warrant. Each whole share purchase warrant entitles the holder
thereof to purchase one common share at a price of $0.45 over a three-year
period from closing. The offering was made through a syndicate of agents
co-led by Dundee Securities Corporation and Desjardins Securities Inc., and
including Loewen, Ondaatje, McCutcheon Limited.
    Victhom intends to use the net proceeds of the offering for the
completion of its ongoing clinical trials on the Neurostep(TM) in order to
register the product with the European and American health authorities and for
the completion of its development activities to adapt the Neurostep(TM) CLS
Neuromodulator to target high potential new indications that could include,
among others, sleep apnea, obesity and chronic pain.

    THE SECURITIES OFFERED HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES
ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES
ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS. THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY THE SECURITIES, NOR SHALL THERE BE ANY SALE OF
THE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE
UNLAWFUL.

    About Victhom

    Victhom researches, develops and delivers bionic devices that treat a
variety of physiological dysfunctions. Victhom has two business units:
BioTronix and NeuroBionix.
    Victhom manages a portfolio of 37 granted and 82 pending patents filed in
various countries and 13 registered trademarks worldwide. Victhom has
established an ongoing process to ensure the protection of its intellectual
property and to pursue filings for any discovery or improvements to its
technologies.

    FORWARD-LOOKING STATEMENTS

    Some of the statements made herein may constitute forward-looking
statements. These statements relate to future events or our future financial
performance and involve known and unknown risks, uncertainties and other
factors that may cause Victhom's actual results, performance or achievements
to be materially different from those expressed or implied by any of the
Victhom's statements. Actual events or results may differ materially. We
disclaim any intention, and assume no obligation, to update these
forward-looking statements.

    Website: www.victhom.com




For further information:

For further information: Victhom Human Bionics Inc.: Benoit Huet,
President and CEO, (418) 872-5665, ext. 103, Fax: (418) 872-6926,
benoit.huet@victhom.com; Media Relations: Frédéric Tremblay, HKDP
Communications and Public Affairs, (514) 395-0375, ext. 234,
ftremblay@hkdp.qc.ca; Source: Victhom Human Bionics Inc.

Organization Profile

Victhom Human Bionics Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890