Aequus Announces Notice of Warrant Acceleration
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VANCOUVER, British Columbia, March 02, 2021 (GLOBE NEWSWIRE) -- Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF), a specialty pharmaceutical company with a focus on developing, advancing and promoting differentiated products is pleased to announce that it has elected to exercise its right under the terms of a warrant indenture dated August 6, 2020 (the “Warrant Indenture”) governing the common share purchase warrants of the Company issued on August 6, 2020 (the “Warrants”) to accelerate the expiry date of the Warrants.
Pursuant to the Warrant Indenture, the Company may accelerate the expiry of these Warrants at any time prior to 5:00pm PST on August 6, 2023 in the event the daily volume weighted average trading price (“VWAP”) of the common shares of the Company (“Common Shares”) on the TSX Venture Exchange exceeds $0.20 for at least 10 consecutive trading days by providing written notice to the warrantholders (the “Acceleration Notice”). The Warrants will, unless exercised, expire on the 30th day after the Company provides the Acceleration Notice.
As of the close of markets on March 2, 2021, the VWAP of the Common Shares had traded in excess of $0.20 for at least 10 consecutive trading days. Accordingly, Aequus has given notice to all registered warrant holders that the expiry date for the Warrants is accelerated to April 1, 2021.
As of March 2, 2021, a total of 14,156,250 Warrants have yet to be exercised. Each Warrant is exercisable to acquire one Common Share at an exercise price of $0.12. If all Warrants are exercised, proceeds to the Company will total $1,698,750.
About Aequus Pharmaceuticals Inc.
Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) is a growing specialty pharmaceutical company focused on developing and commercializing high quality, differentiated products. Aequus has grown its sales and marketing efforts to include several commercial products in ophthalmology and transplant. Aequus plans to build on its Canadian commercial platform through the launch of additional products that are either created internally or brought in through an acquisition or license; remaining focused on highly specialized therapeutic areas. For further information, please visit www.aequuspharma.ca.