/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE
SERVICES/
TORONTO, April 5, 2018 /CNW/ - Delivra Corp. (TSXV: DVA)
(the "Company" or "Delivra") has completed a
non-brokered private placement through the issuance of 3,561,423
units ("Units", as defined below) of the Company for gross
proceeds of $1,246,498.20 (the
"Offering").
Each Unit consists of one common share of the Company (a
"Share") and one share purchase warrant (a
"Warrant"). Each whole Warrant will entitle the holder to
purchase one Share at a price of $0.50 per Share for 24 months from the date of
closing, subject to the option of the Company, in the event that
the closing price of Shares on the TSX Venture Exchange (the
"TSXV") equals or exceeds $0.90 per Share for 10 consecutive days, to
accelerate the expiry of the Warrants to 30 days after acceleration
notice (the "Acceleration Option").
In connection with the Offering, the Company paid to eligible
institutional finders a commission consisting of a cash payment of
$62,770.05 and the issuance to the
finders of 179,343 finders' warrants exercisable into Shares at
$0.35 per finders' warrant for a
period of 24 months following closing of the Offering, subject to
the Acceleration Option.
The proceeds of the Offering will be used for general corporate
purposes.
The Offering is subject to the approval of the TSXV. Shares and
Warrants issued pursuant to the Offering will be subject to a hold
period of four months and one day from the date of closing.
About Delivra Corp.
Delivra Corp. is a specialty biotechnology company having
developed a proprietary transdermal delivery system platform that
can shuttle pharmaceutical and natural molecules through the skin,
in a targeted manner. Delivra manufactures and sells a growing line
of natural topical creams with the proprietary transdermal delivery
system platform under the LivRelief™ brand, for conditions such as
joint and muscle pain, nerve pain, varicose veins, wound healing,
and under the LivSport™ brand for sports performance. LivRelief™
products are available in pharmacies, grocery chains, and
independent health food stores across Canada, including, but not limited to,
Shoppers Drug Mart, Walmart, Loblaw, Rexall, Pharmasave, London
Drugs, and on-line at www.livrelief.com. In parallel with its
consumer products business, Delivra also has a mandate to license
its patent-pending, proprietary transdermal delivery technology
platform to pharmaceutical companies globally, for the repurposing
of pharmaceutical molecules transdermally to treat a broad range of
conditions, along with licensing its over-the-counter products
globally. Delivra is headquartered in Hamilton, Ontario and has a research and
development laboratory in Charlottetown, PEI.
Further information on Delivra can be found at
www.delivracorp.com, www.livrelief.com, for Canada and www.livrelief.com/us, for
the United States.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release includes certain information and statements
about management's view of future events, expectations, plans and
prospects that constitute "forward-looking statements", which are
not comprised of historical facts. Forward-looking statements may
be identified by such terms as "believes", "anticipates",
"intends", "expects", "estimates", "may", "could", "would", "will",
or "plan", and similar expressions. Specifically, forward-looking
statements in this news release include, without limitation,
statements regarding: the research to be completed by Delivra for a
suite of medical marijuana based products; the Company's drug
research and development plans in general; the timing of
operations; and estimates of market conditions. These statements
involve known and unknown risks, uncertainties, and other factors
that may cause actual results or events, performance, or
achievements of Delivra to differ materially from those anticipated
or implied in such forward- looking statements. The Company
believes that the expectations reflected in these forward-looking
statements are reasonable, but there can be no assurance that
actual results will meet management's expectations. In formulating
the forward-looking statements contained herein, management has
assumed that business and economic conditions affecting Delivra
will continue substantially in the ordinary course and will be
favourable to Delivra, that clinical testing results will justify
commercialization of the Company's drug candidates; that Delivra
will be able to obtain all requisite regulatory approvals to
commercialize its drug candidates, that such approvals will be
received on a timely basis, and that Delivra will be able to find
suitable partners for development and commercialization of its drug
repurposing candidates on favourable terms. Although these
assumptions were considered reasonable by management at the time of
preparation, they may prove to be incorrect. Factors that may cause
actual results to differ materially from those anticipated by these
forward-looking statements include: unsuccessful outcomes in
research for a suite of medical cannabis based products;
uncertainties associated with obtaining regulatory approval to
perform clinical trials and market products; the need to establish
additional corporate collaborations, distribution or licensing
arrangements; the ability of the Company to generate sales and
profits; the Company's ability to raise additional capital if and
when necessary; intellectual property disputes; increased
competition from pharmaceutical and biotechnology companies;
changes in equity markets, inflation, and changes in exchange
rates; and other factors as described in detail in Delivra's public
filings, all of which may be viewed on SEDAR (www.sedar.com). Given
these risks and uncertainties, readers are cautioned not to place
undue reliance on such forward-looking statements and information,
which are qualified in their entirety by this cautionary statement.
Except as required by law, Delivra disclaims any intention and
assumes no obligation to update or revise any
forward-looking statements to reflect actual results, whether as a
result of new information, future events, changes in assumptions,
changes in factors affecting such forward-looking statements or
otherwise.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Delivra Corp