/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
SAN DIEGO, CA, Aug. 10 /CNW/ - Nventa Biopharmaceuticals Corporation
(TSX: NVN) announces that it has filed a final short form prospectus with the
securities regulatory authorities of the provinces of British Columbia,
Alberta, Saskatchewan, Manitoba, Ontario and Nova Scotia. This prospectus
qualifies the proposed offering up to 80,000,000 units of NVN for gross
proceeds of up to $10,000,000. This offering is being made through Jennings
Capital Inc. and Canaccord Capital Corporation on a best efforts basis in
accordance with an agency agreement dated August 9, 2007.
Each unit, at a price of $0.125, consists of one common share of NVN and
one-half of one transferable common share purchase warrant. Each warrant will
entitle its holder to subscribe for one common share for a period of 30 months
following the closing of the offering at an exercise price of $0.25, subject
to Nventa's right to accelerate the expiry date in the event that the price of
Nventa's common shares closes at or above $0.625 for 20 consecutive trading
days on the Toronto Stock Exchange.
Nventa has granted to the agents an over-allotment option, exercisable in
whole or in part, for a period of 60 days following the initial closing,
enabling them to purchase additional units representing up to 15 percent of
the units issued at the initial closing at $0.125 per unit, to cover
over-allotments and for market stabilization purposes.
Closing of the offering is expected to occur on or about August 21, 2007.
The securities offered under this short form prospectus have not been and
will not be registered under the United States Securities Act of 1933, as
amended, or any state securities laws and may not be offered or sold in the
United States or to persons in the United States unless registered or an
exemption from such registration is available.
About Nventa Biopharmaceuticals Corporation:
Nventa is developing innovative therapeutics for the treatment of viral
infections and cancer, with a focus on diseases caused by the human
papillomavirus (HPV). The corporation is publicly traded on the Toronto Stock
Exchange under the symbol NVN.
For more information about Nventa Biopharmaceuticals Corporation, please
visit the company's website located at www.nventacorp.com.
Forward-Looking Information Disclaimer:
This press release contains statements which, to the extent that they are
not recitations of historical fact may constitute forward-looking information
under applicable Canadian securities legislation or forward-looking statements
within the meaning of the United States Private Securities Litigation Reform
Act of 1995. Such forward-looking statements or information may include
financial and other projections as well as statements regarding the Company's
future plans, objectives, performance, revenues, growth, profits, operating
expenses or the Company's underlying assumptions. The words "may", "would",
"could", "will", "likely", "expect", "anticipate", "intend", "estimate",
"plan", "forecast", "project" and "believe" or other similar words and phrases
are intended to identify forward-looking statements or information. Persons
reading this press release are cautioned that such statements or information
are only predications, and that the Company's actual future results or
performance may be materially different.
Forward-looking statements or information in this press release include,
but are not limited to, statements or information concerning the date of the
closing for the offering. Such forward-looking statements or information
involve known and unknown risks, uncertainties and other factors that may
cause our actual results, events or developments, to be materially different
from any future results, events or developments expressed or implied by such
forward-looking statements or information. Such factors include the level of
investor interest, the market price of our securities and developments in our
business, including any regulatory developments.
Assumptions underlying our expectations regarding forward-looking
statements or information contained in this press release include, among
others, that closing of the offering will occur on or about August 21, 2007.
In the event that any of these assumptions prove to be incorrect, or in
the event that we are impacted by any of the risks identified above, we may
not be able to continue in our business as planned, or at all.
For a complete discussion of the assumptions, risks and uncertainties
related to our business, you are encouraged to review our filings with
Canadian securities regulatory authorities on SEDAR at http://www.sedar.com.
Historical filings relating to the Company prior to the completion of the
Company's March 23, 2006 corporate reorganization, may be reviewed on SEDAR at
http://www.sedar.com under the SEDAR profile GVIC Publications Ltd.
All forward-looking statements and information made herein are based on
our current expectations as of the date hereof and we disclaim any intention
or obligation to revise or update such forward-looking statements and
information to reflect subsequent events or circumstances, except as required
For further information:
For further information: Donna Slade, Director, Investor Relations, 9381
Judicial Drive, Suite 180, San Diego, CA, USA, 92121, Tel: (858) 202-4900,
Fax: (858) 450-6849, email@example.com