Victoria, British Columbia, Canada, May 29, 2018 - IMMUNOPRECISE ANTIBODIES LTD. (“ImmunoPrecise” or “IPA”) (TSX VENTURE: IPA)(OTC PINK: IPATF) announces that it proposes to complete a non-brokered private placement financing of 750,000 units (“Units”) of ImmunoPrecise at a price of $0.80 per Unit for gross proceeds of $600,000 (the “Financing”).
Each Unit will consist of one common share (a “Share”) of ImmunoPrecise and one share purchase warrant (a “Warrant”) of ImmunoPrecise, with each Warrant entitling the holder to purchase an additional Share at a price of $1.00 for a period of one year from the date of issue. ImmunoPrecise will have the right to accelerate the expiry date of the warrants provided that ImmunoPrecise’s volume weighted average price trades at $1.50 for a period of 20 consecutive days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after ImmunoPrecise issues a news release announcing that it has elected to exercise this acceleration right.
The proceeds of the Financing will be used to expand operations and sales in the United States, Canada and Europe.
About ImmunoPrecise Antibodies Ltd.
Immunoprecise, is a full-service, therapeutic antibody discovery company focused on the next generation of antibody discovery, to deliver the most therapeutically-relevant antibodies, in a shorter period of time, with the highest probability of clinical success.
Immunoprecise offers highly customizable therapeutic antibody programs and is a preferred CRO for Ligand Pharmaceutical’s OmniAb transgenic animal platform. The services offered to customers include a wide range of therapeutically-relevant immunization strategies, including protein, cell-based and genetic immunization methods, against diverse families of therapeutic targets.
Immunoprecise continues to offer a wide range of complementary services including our rabbit monoclonal antibody technology (RMAT), polyclonal antibodies, recombinant protein and antibody expression and purification, diagnostic and tool antibody generation, as well as cryopreservation services for the storage of valuable biological materials including hybridoma clones, plasmid constructs, and cell lines.
Immunoprecise operates from state-of-the-art facilities located at the Vancouver Island Technology Park in Victoria, British Columbia, which house its tissue culture and molecular laboratories as well as an animal care unit. It is a member of the Canadian Council for Animal Care and operates in association with U-Protein Express B.V., its subsidiary laboratory in the Life Science Incubator, Utrecht Science Park, Utrecht, the Netherlands.
Immunoprecise employs a highly experienced group of R&D scientists. Over the last 25 years, investments in innovative and proprietary technologies and methods have vastly improved the speed and efficiency of antibody discovery and testing.
For further information please contact:
ImmunoPrecise Antibodies Ltd.
3204-4464 Markham Street.
Victoria, BC V8Z 7X8
For investor relations please contact:
Contact Financial Corp.
1450 – 701 West Georgia St.
Vancouver, BC V7Y 1G5
Forward Looking Information
This news release contains statements that, to the extent they are not recitations of historical fact, may constitute “forward-looking statements” within the meaning of applicable Canadian securities laws. The Company uses words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “believe”, “intend” and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments. However, whether actual results and developments will conform to the Company’s expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause the Company’s actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors include, among other things, the Company closing its acquisition of ModiQuest, and such risks and uncertainties described in the Company’s Filing Statement dated December 13, 2017 which can be accessed at www.sedar.com. The “forward-looking statements” contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.
Neither the 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.