MISSISSAUGA, ON, Dec. 21, 2012 /CNW/ - YM BioSciences Inc. (NYSE MKT: YMI, TSX: YM) today announced that the Supreme Court of Nova Scotia has granted an
interim order, setting, among other things, December 31, 2012 as the
record date associated with the previously announced plan of
arrangement. Every shareholder of record at the close of business on
that day will be entitled to receive notice of and vote at the special
meeting of YM shareholders ("Meeting") at which they will be asked to
approve the plan of arrangement. Pursuant to the terms of the interim
order, the Meeting will be held on Thursday, January 31, 2013 at 10:00
a.m. (Toronto time).
Additional Information and Where to Find It
Further information regarding the transaction will be contained in an
information circular that YM will prepare and mail to its shareholders
in connection with the Meeting, with closing expected to occur in the
first quarter of 2013. YM shareholders are urged to read the
information circular once it becomes available, as it will contain
important information concerning the proposed transaction. YM
shareholders may obtain a copy of the arrangement agreement,
information circular, and other meeting materials when they become
available at www.sec.gov and www.sedar.com.
This press release is for informational purposes only. It does not
constitute an offer to purchase shares of YM or a solicitation or
recommendation statement under the rules and regulations of the United
States Securities and Exchange Commission or other applicable laws.
About YM BioSciences
YM BioSciences Inc. is a drug development company primarily focused on
advancing CYT387, an orally administered inhibitor of both the JAK1 and
JAK2 kinases, which have been implicated in a number of hematological
and immune cell disorders including myeloproliferative neoplasms and
inflammatory diseases as well as certain cancers. Positive interim
results have been reported from a Phase I/II trial of CYT387 in 166
patients with myelofibrosis.
This press release may contain forward-looking statements, which reflect
YM's current expectation regarding future events. These forward-looking
statements involve risks and uncertainties that may cause actual
results, events or developments to be materially different from any
future results, events or developments expressed or implied by such
forward-looking statements. Such factors include, but are not limited
to, changing market conditions; the successful and timely completion of
clinical studies; the establishment of corporate alliances; the impact
of competitive products and pricing; new product development;
uncertainties related to the regulatory approval process or the ability
to obtain drug product in sufficient quantity or at standards
acceptable to health regulatory authorities to complete clinical trials
or to meet commercial demand; and other risks detailed from time to
time in YM's ongoing quarterly and annual reporting. Except as required
by applicable securities laws, YM undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
SOURCE: YM BioSciences Inc.
For further information:
VP Corporate Affairs
YM BioSciences Inc.
Tel. +1 905.361.9518