All amounts are in US dollars
QUEBEC CITY, Sept. 25,
2015 /CNW Telbec/ - Aeterna Zentaris Inc. (NASDAQ: AEZS; TSX:
AEZ) (the "Company") announced today that The Toronto Stock
Exchange ("TSX") has approved its previously announced amendment
(the "Series B Warrant Amendment") to its outstanding Series B
Common Share Purchase Warrants (the "Series B Warrants") agreed to
with the holders of approximately 90% of the holders of the Series
B Warrants intended to reduce the dilutive effect of the exercise
of the Series B Warrants by establishing a cap on the number of
shares issuable upon alternate net cashless exercise ("Net Cashless
Exercise") of the Series B Warrants until the close of business on
November 17, 2015 and by limiting the
number of shares that the Consenting Holders may sell until the
close of business on October 9,
2015. In approving the Series B Warrant Amendment, TSX relied
on the exemption set forth in Section 602.1 of the TSX Company
Manual available to "Eligible Interlisted Issuers", since the
Company's Common Shares are also listed on the NASDAQ Capital
Market and had less than 25% of the overall trading volume of its
listed securities occurring on all Canadian marketplaces in the
twelve months immediately preceding the date on which application
was made to TSX to approve the Series B Warrant Amendment.
As of September 25, 2015,
approximately 8.2 million Series B Warrants remained outstanding,
representing approximately 27.6 % of the number originally
issued. In addition, as of the close business on September 25, 2015, there were approximately
447.7 million issued and outstanding Common Shares.
About Aeterna Zentaris Inc.
Aeterna Zentaris is a specialty biopharmaceutical company
engaged in developing and commercializing novel treatments in
oncology, endocrinology and women's health. For more
information, visit www.aezsinc.com.
Forward Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbor provisions of the US Securities
Litigation Reform Act of 1995. Forward-looking statements
involve known and unknown risks and uncertainties that could cause
actual events to differ materially from those in the
forward-looking statements. Such risks and uncertainties
include, among others, the effectiveness of the above-described
amendment of the Series B Warrants to temporarily reduce the
selling pressure on our stock by limiting the additional dilution
from the Net Cashless Exercise of Series B Warrants.
Investors should consult the Company's quarterly and annual filings
with the Canadian and US securities commissions for additional
information on risks and uncertainties relating to forward-looking
statements. Investors are cautioned not to place undue
reliance on these forward-looking statements. The Company
does not undertake to update these forward-looking
statements. We disclaim any obligation to update any such
factors or to publicly announce the result of any revisions to any
of the forward-looking statements contained herein to reflect
future results, events or developments, unless required to do so by
a governmental authority or by applicable law.
SOURCE Aeterna Zentaris Inc.