IntelGenx Announces Issuance of Shares in Payment of Interest on Outstanding Debentures

SAINT-LAURENT, Quebec, Dec. 08, 2020 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. (TSXV: IGX) (OTCQB: IGXT) (the “Company” or “IntelGenx”) announces that it intends to issue 899,940 common shares of the Corporation (the “Common Shares”) at a deemed price of CAD $0.335 per Common Share in payment of an aggregate of $301,480 in interest owing on the Corporation’s 8.00% convertible unsecured subordinated debentures due June 30, 2022 (the “Debentures”).

Under the terms of the trust indenture governing the Debentures (the “Indenture”), the Corporation has the option to pay the semi-annual interest on the Debentures in either cash or Common Shares, subject to customary conditions set forth in the Indenture. The issuance of the Common Shares in payment of interest on the Debentures is subject to the acceptance by the TSX Venture Exchange Inc. The Common Shares issued in payment of interest on the Debentures will be issued pursuant to exemptions from the prospectus requirements of applicable securities laws.

About IntelGenx:

IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.

IntelGenx’s superior film technologies, including VersaFilm and VetaFilm, as well as its transdermal development and manufacturing capabilities, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx’s innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions.

IntelGenx's highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx's state-of-the-art manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production. For more information, visit www.intelgenx.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer or solicitation of sale would be unlawful.

For more information, please contact:

Stephen Kilmer
Investor Relations
[phone] ext 232
[e-mail]

OR

Andre Godin, CPA, CA
President and CFO
IntelGenx Technologies Corp.
[phone] ext 203
[e-mail]