The Company Filed a Request for an Advance Tax Ruling to Qualify to the
New Quebec Stock Savings Plan (QSSP) Announced by Quebec Government on
March 19, 2009
QUEBEC, April 8 /CNW Telbec/ - Mr. Benoit Côte, President and Chief
Operating Officer of Biotanika Health Group Inc. ("Biotanika" or "the
Company") is proud to announce the filing of the Company's preliminary
prospectus to the Autorité des Marchés Financiers ("AMF") and to the Ontario,
Alberta and British Columbia Securities Commissions. Pursuant to the document
filed, shares subscribed as part of the Initial Public Offer ("IPO") should
qualify to the new Quebec Stock Savings Plan ("QSSP") unveiled in the
provincial budget tabled on March 19, 2009. A request for an advance tax
ruling has been filed to Revenu Québec to this effect. This IPO should allow
Biotanika to raise $4.5M to realize its innovative projects on the short term
and on the long term to develop and set up a commercial strategy for its
natural products for pain relief distributed in North America and on the
"Biotanika has already initiated its pre-commercialization phase in
Canada and in the United States during the end of 2008 and Q1-2009. After
having consolidated the scientific and commercial partnerships already
announced, it is now time to execute our first phase of organic growth and
develop a plan to create value to our current and future shareholders while
focusing on development leverage both for the human and the companion animal
health sectors. This plan will rely on organic growth, launch of new products,
new partnerships, geographical diversification of our markets, and closing
profitable acquisitions. We believe that the contemplated financing will
adequately support our initial plan and the actions of our experienced
management team", explains Benoit Côte, President and Chief Executive Officer
of the Company.
Industrial Alliance Securities acts as the Agent and the Company is
expected to file its final prospectus in all jurisdictions above mentioned
once it obtains all the required approvals.
A preliminary prospectus containing important information relating to
these securities has been filed with securities commissions or similar
authorities in certain jurisdictions of Canada. The preliminary prospectus is
still subject to completion or amendment. Copies of the preliminary prospectus
may be obtained from Industrial Alliance Securities Inc., 2200, McGill College
Avenue, Suite 350, Montréal, Québec H3A 3P8 by calling 514-499-1066 or
1800-361-7465. There will not be any sale or any acceptance of an offer to buy
the securities until a receipt for the final prospectus has been issued.
Biotanika specializes in the development and the distribution of natural
health products. These products with proven efficiency provide an alternative
to prescription drugs to people suffering from pathologies affecting their
quality of life.
Biotanika Health is a commercial unit for products addressing the human
health market and Biotanika Animal is a commercial unit for products
addressing the companion animal market.
For any additional information, please visit www.biotanika.com.
For further information:
For further information: Mr. Benoit Côte, President and Chief Executive
Officer, Biotanika Health Group Inc., (418) 653-3423, ext. 1701,
email@example.com; Source: Biotanika Health Group Inc.