Clarification on Acasti Pharma Rights Offering
September 08 2011 - 8:00AM
Acasti Pharma Inc. («Acasti ») (TSX-V:APO) and Neptune Technologies
& Bioressources Inc. ("Neptune") (Nasdaq:NEPT) (TSX-V:NTB)
provide the following clarification of the terms of the current
Acasti Rights Offering in response to right holders
inquiries. It should be noted that the terms of the Acasti
Rights Offering have not changed.
- Ten (10) rights plus one dollar and twenty five cents ($1.25)
are required to acquire one share of Acasti
- The Rights Offering will expire on September 14, 2011 at 4PM,
Montreal time, afterwhich, all outstanding and unexercised rights
will be worthless.
- US shareholders that are accredited investors (see definition
below), generally are entitled to exercise their rights upon
delivery of appropriate documentation.
- All Acasti shares issued through the Rights Offering will be
freely tradable in Canada.
- Rights can be oversubscribed up to the maximum number of shares
offered (6,445,444), representing a maximum gross proceed of
$8,056,805.
Neptune to Exercise Acasti Rights
Neptune intends to exercise rights and acquire up to 2,000,000
shares of Acasti. Should this transaction proceed accordingly,
the subscription of rights represents a $2,500,000 investment in
Acasti. Neptune would own 40,617,733 shares of Acasti.
Please refer to the Offering Circular filed on SEDAR on June 17,
2011 for additional and complete information on Acasti Rights
Offering. Any question regarding the Rights Offering can be
addressed to Xavier Harland, see below for contact information.
US accredited investors are as defined in Regulation D under the
United States Securities Act of 1933. All dollar amounts are
in Canadian dollar.
About Acasti Pharma Inc.
Acasti Pharma is developing a product portfolio of proprietary
novel long-chain omega-3 phospholipids. Phospholipids are the major
component of cell membranes and are essential for all vital cell
processes. They are one of the principal constituents of High
Density Lipoprotein (good cholesterol) and, as such, play an
important role in modulating cholesterol efflux. Acasti Pharma's
proprietary novel phospholipids carry and functionalize the
polyunsaturated omega-3 fatty acids EPA and DHA, which have been
shown to have substantial health benefits and which are stabilized
by potent antioxidants. Acasti Pharma is focusing initially on
treatments for chronic cardiovascular and cardiometabolic
conditions within the over-the-counter, medical food and
prescription drug markets.
About Neptune Technologies & Bioressources
Inc.
Neptune is an industry-recognized leader in the innovation,
production and formulation of science-based and clinically proven
novel phospholipid products for the nutraceutical and
pharmaceutical markets. The Company focuses on growing consumer
health markets including cardiovascular, inflammatory and
neurological diseases driven by consumers taking a more proactive
approach to managing health and preventing disease. The Company
sponsors clinical trials aimed to demonstrate its product health
benefits and to obtain regulatory approval for label health claims.
Neptune is continuously expanding its intellectual property
portfolio as well as clinical studies and regulatory approvals.
Neptune's products are marketed and distributed in over 20
countries worldwide.
"Neither Nasdaq nor 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."
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements"
within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995 and Canadian securities laws. Such
forward-looking statements involve known and unknown risks,
uncertainties, and other unknown factors that could cause the
actual results of the Company to be materially different from
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are urged
to consider statements labeled with the terms "believes," "belief,"
"expects," "intends," "anticipates," "will," or "plans" to be
uncertain and forward-looking. The forward-looking statements
contained herein are also subject generally to other risks and
uncertainties that are described from time to time in the Company's
reports filed with the Securities and Exchange Commission and the
Canadian securities commissions.
CONTACT: Acasti Contact:
Xavier Harland
Chief Financial Officer
+1.450.687.2262
x.harland@acastipharma.com
www.acastipharma.com
Neptune Contact:
Andre Godin,
Chief Financial Officer
+1.450.687.2262
a.godin@neptunebiotech.com
www.neptunebiotech.com
Howard Group Contact:
Bob Beaty
+1.888.221.0915
bob@howardgroupinc.com
www.howardgroupinc.com
CEOcast Contact:
Dan Schustack
+1.212.732.4300
dschustack@ceocast.com
www.ceocast.com
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