Research Triangle Park, NC, August 8, 2014 – – Adherex Technologies Inc. (TSX: AXH, OTCQB: ADHXF), today reported the final results of the Warrant exchange which concluded on July 29, 2014. Approximately, 71% of all outstanding warrants originally issued by the Company on April 30, 2010 and 48% of all outstanding warrants issued on March 29, 2011 participated in the exchange. The new capital structure of the Company post the exchange is as follows:
29.5 million shares outstanding
0.9 million shares upon exercise at USD $0.50, warrants expire on April 30, 2015
0.2 million shares upon exercise at USD $0.50, warrants expire on March 29, 2016
4.0 million shares upon exercise at USD $0.50, warrants expire on November 22, 2018
3.9 million shares upon exercise at CAD $1.44, warrants expire on April 30, 2015
2.5 million shares upon exercise at CAD $1.44, warrants expire on March 29, 2016
Except for historical information described in this press release, all other statements are forward-looking. Forward-looking statements are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including such risks that regulatory clinical and guideline developments may change, scientific data may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient settings, protection offered by the Company’s patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market for the Company’s products will not be as large as expected, the Company’s products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to fund further development and clinical studies, the Company may not meet its future capital needs, and its ability to obtain additional funding, as well as uncertainties relative to varying product formulations and a multitude of diverse regulatory and marketing requirements in different countries and municipalities, the risks described in the Offer Letter and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2013. Adherex Technologies Inc. disclaims any obligation to update these forward-looking statements except as required by law.
For further information, please contact:
Chief Executive Officer
Adherex Technologies Inc.
T: (919) 636-5144