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QUEBEC CITY, Aug. 9 /CNW/ - Medicago Inc. ("Medicago" or the "Company") (TSX: MDG), announced today that it has undertaken an overnight marketed offering of units, each unit being comprised of one common share and a portion of a common share purchase warrant, the offering to be effected in each of the Canadian provinces of British Columbia, Alberta, Ontario and Quebec by way of a prospectus supplement to Medicago's base shelf prospectus of July 7, 2010. The number of units to be distributed, the price of each unit and the exercise price of each whole common share purchase warrant will be determined in context of the market with final terms to be determined at the time of pricing. Dundee Securities Corporation and Paradigm Capital Inc. are acting as agents for the offering.
This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
Medicago is committed to provide highly effective and affordable vaccines based on proprietary Virus-Like Particle (VLP) and manufacturing technologies. Medicago is developing VLP vaccines to protect against H5N1 pandemic influenza, using a transient expression system which produces recombinant vaccine antigens in non-transgenic plants. This technology has potential to offer advantages of speed and cost over competitive technologies. It could deliver a vaccine for testing in about a month after the identification and reception of genetic sequences from a pandemic strain. This production time frame has the potential to allow vaccination of the population before the first wave of a pandemic strikes and to supply large volumes of vaccine antigens to the world market. Additional information about Medicago is available at www.medicago.com.
Forward Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with Medicago's business and the environment in which the Company operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to Medicago or its management. The forward-looking statements are not historical facts, but reflect Medicago's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks Factors and Uncertainties" in Medicago's Annual Information Form filed on March 24, 2010 with the regulatory authorities. Medicago assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
SOURCE Medicago Inc.
For further information: For further information: Medicago, Inc.: Andy Sheldon, President and CEO, (418) 658-9393; Medicago Inc.: Christina Cameron, Investor Relations Manager, (418) 658-9393 x156