In order for the Company to proceed with the Financing Transactions not previously closed, Shareholders were required to approve:
- the issuance of shares of common stock (the “Shares”) at prices which may be less than the minimum price permitted under the rules of the
Toronto Stock Exchange (“TSX”); - the issuance of Shares in excess of 24.99% of the issued and outstanding Shares in connection with the Financing Transactions (the “General Shareholder Approval”); and
- the issuance of Shares to “insiders” of the Company (as such term is defined in the policies of the TSX) in excess of 9.99% of the issued and outstanding Shares in connection with the Financing Transactions (the “Insider Shareholder Approval”).
All matters were approved by the required majorities which, in the case of the General Shareholder Approval and the Insider Shareholder Approval, excluded the votes attached to the Shares beneficially owned, directly or indirectly, by atai, in accordance with the rules of the TSX and applicable securities regulations.
In addition, Shareholders also approved an amendment to the certificate of incorporation of the Company to increase the authorized common stock from 450,000,000 Shares to 580,000,000 Shares;
The Financing Transactions are further described in the proxy statement dated
About
Forward-Looking Information
This document may contain forward-looking information which involve substantial risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. All statements, other than statements of historical fact, contained in this press release including, but not limited to, statements regarding, generally, the “About IntelGenx” paragraph which essentially describe the Corporation’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” and are based on necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Because these forward-looking statements are subject to a number of risks and uncertainties, IntelGenx’ actual results, objectives and plans could differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading “Risk Factors” in IntelGenx’ annual report on Form 10-K, filed with the
For more information, please contact:
Investor Relations
(647) 872-4849
stephen@kilmerlucas.com
Or
President and CFO
(514) 331-7440 ext 203
andre@intelgenx.com
Source:
2023 GlobeNewswire, Inc., source