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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cotinga Pharmaceuticals Inc | TSXV:COT | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.035 | 0.025 | 0.06 | 0 | 00:00:00 |
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Critical Outcome Technologies Inc. ("COTI" or the "Company") (TSX VENTURE:COT), the bioinformatics and accelerated drug discovery company, announced today that further to its previously announced engagement (the "Agreement") with Maxim Group LLC ("Maxim"), the Company has made the first advisory fee payment for services performed by Maxim under the terms of the Agreement. The Company issued common share purchase warrants (the "Advisory Warrants") expiring on April 11, 2019 to acquire 1,500,000 common shares of COTI at an exercise price of USD $0.19 per share. Maxim is eligible to receive up to 3,000,000 Advisory Warrants issuable over the term of the Agreement for its strategic advisory services. The exercise price of the Advisory Warrants is calculated based upon the volume weighted average trading price of the Company's common shares on the TSX Venture Exchange for the five trading days immediately preceding the date of issue and is converted to USD at the Bank of Canada closing exchange rate for the date immediately preceding the date of issue. The Advisory Warrants and any shares issued upon warrant exercise will be subject to a hold period related to resale in Canada of four months plus one day and a hold period in the United States in accordance with applicable securities laws. The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities or a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements. About Critical Outcome Technologies Inc. COTI is a leading-edge technology company specializing in accelerating the discovery and development of small molecules - dramatically reducing the time and cost to bring new drugs to market. COTI's proprietary artificial intelligence system, CHEMSAS(R), utilizes a series of predictive computer models to identify compounds with a high probability of being successfully developed from disease specific drug discovery through chemical optimization and preclinical testing. These compounds are targeted for a variety of diseases, particularly those for which current treatments are either lacking or ineffective. Follow @CriticalOutcome on Twitter at http://twitter.com/CriticalOutcome. Notice to Readers Information contained in this press release may contain certain statements, which constitute "forward- looking statements" within the meaning of the Securities Act (Ontario) and applicable securities laws. For example, the statement "Maxim is eligible to receive up to 3,000,000 Advisory Warrants issuable over the term of the agreement for its strategic advisory services" is a forward-looking statement. Forward-looking statements by their nature are not guarantees of future performance and are based upon management's current expectations, estimates, projections and assumptions. COTI operates in a highly competitive environment that involves significant risks and uncertainties, which could cause actual results to differ materially from those anticipated in these forward-looking statements. Management of COTI considers the assumptions on which these forward-looking statements are based to be reasonable, but as a result of the many risk factors, cautions the reader that actual results could differ materially from those expressed or implied in these forward-looking statements. Information in this press release should be considered accurate only as of the date of the release and may be superseded by more recent information disclosed in later press releases, filings with the securities regulatory authorities or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. FOR FURTHER INFORMATION PLEASE CONTACT: Critical Outcome Technologies Inc. Dr. Wayne Danter President & CEO 519-858-5157 wdanter@criticaloutcome.com www.criticaloutcome.com Heisler Communications Trevor Heisler Investor Relations 416-500-8061 trevor@heislercommunications.com
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