WOODBRIDGE, ON, June 18, 2015 /CNW/ - Pivotal Therapeutics Inc. (OTCQX:PVTTF; CSE:PVO), ("Pivotal" or the "Company"), a specialty pharmaceutical company with a focus on Omega-3 therapies for cardiovascular disease and overall health, announced that on June 17, 2015 it issued 780,722 common shares of the Corporation (the "Common Shares"). The Common Shares represented payment of interest for the period of March 5th, 2015 to June 4th, 2015 on its outstanding Convertible Notes that is due on or before July 1, 2015. Interest on the Notes, at the rate of 8% per annum, is payable quarterly in either cash or Common Shares, at the option of the Company. Common Shares issued in payment of interest are valued at the greater of CDN $0.20 per share and such price as may be allowed under the CSE Policy. The issued and outstanding number of shares now total 95,013,710.
About Pivotal Therapeutics Inc.
Pivotal Therapeutics is a publicly traded (OTCQX:PVTTF; CSE:PVO), specialty pharmaceutical company with a focus on cardiovascular disease and overall health. Pivotal Therapeutics' lead product VASCAZEN® is a prescription only medical food specially formulated for the dietary management of Omega-3 deficiency in patients with cardiovascular disease through elevating Eicosapentaenoic acid (EPA) and Docosahexaenoic acid (DHA) to levels associated with reduced risk of cardiovascular complications. OMAZEN® is a pharmaceutical grade Omega-3 providing over 90% pure Omega-3 in each capsule for the maintenance of good health. OMAZEN® is a patented product available for sale and distribution in Canada for the professional market. BeneFishial™ is the first product in Pivotal's new nutraceutical product line, which has been specifically designed to be sold in the OTC direct to retail or direct to consumer markets. The Company's product line is being expanded to include its first drug candidate PVT-100 and a point of care diagnostic OmegaSTAT™. PVT-100 utilizes VASCAZEN®'s unique formulation for the stabilization of vulnerable plaque in patients undergoing carotid endarterectomy. OmegaSTAT™ is a rapid format point-of-care (POC) diagnostic test being developed to measure Omega-3 deficiency.
The information contained in this document is as June 18, 2015. This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Pivotal's actual results to differ materially from those projected in such forward-looking statements. These statements can be identified by the use of words such as "will", "anticipate", "estimate", "expect", "project", "forecast", "intend", "plan", "believe", "project", "potential", and similar expressions with any discussion of future operating or financial performance or events. In particular, factors that could cause actual results to differ materially from those in forward looking statements include the following: Pivotal's inability to obtain additional financing on acceptable terms; growth in costs and expenses; inability to compete with others who provide comparable products; risk that the Company's products will not gain widespread market acceptance; risks relating to the Company's ability to maintain its CSE listing. Forward-looking statements speak only as of the date made and are not guarantees of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this document as a result of new information or future events or developments. The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this information.
SOURCE Pivotal Therapeutics Inc.
For further information: Company Contacts: Kristine DiMatteo, Communications and Public Relations Manager, Phone: 905-856-9797 ext. 231, E-Mail: [email protected]