Aequus Pharmaceuticals Inc. (CVE:AQS) said that further to its announcement of March 2, 2021, shareholders have exercised approximately 79% of the available common share purchase warrants of the company issued on Aug. 6, 2020, which had an accelerated expiry date of April 1, 2021.
The company said it issued 12,343,750 common shares under the warrant acceleration for gross proceeds of $1,481,250.
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"We are pleased to see such a large portion of the warrants be exercised," commented Doug Janzen, Aequus chairman and chief executive officer in a statement.
"I personally increased my Aequus holdings by exercising 1,562,500 warrants at a cost of $187,500 and expect these funds to be used to advance our business development discussions," he added.
The company said further financial details will be available in its audited financial statements for the year ended December 31, 2020, expected to be released on or around April 23, 2021.
Aequus is a growing specialty pharmaceutical company focused on developing and commercializing high quality, differentiated products.
The company has grown its sales and marketing efforts to include several commercial products in ophthalmology and transplant. Aequus plans to build on its Canadian commercial platform through the launch of additional products that are either created internally or brought in through an acquisition or license; remaining focused on highly specialized therapeutic areas.
Contact the author at jon.hopkins@proactiveinvestors.com