Medicago announces conversion of Medicago's subscription receipts into units
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
As the Subscription Receipts traded in the "Book-Entry" System and no individual certificates were issued, holders of Subscription Receipts do not need to take any action in order to receive the Common Shares and the Warrants of the Company to which they are entitled. Common Shares of the Company underlying the Subscription Receipts and that may be issued upon exercise of the Warrants will automatically be listed on the TSX Venture Exchange.
The 16,100,000 Subscription Receipts issued on
Philip Morris Participation B.V. ("PMP") has elected not to exercise its preemptive right under the Representation Right and Preemptive Right Agreement dated
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
About Medicago
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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For further information: Medicago Inc., Andy Sheldon, President and Chief Executive Officer, (418) 658-9393; Medicago Inc., Arianna Vanin, Director, Investor Relations, (514) 796-3993
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