(TheNewswire)
Vancouver, BC - TheNewswire - October 20, 2023 - Aequus Pharmaceuticals Inc. (TSX-V:AQS ) ( OTC: AQSZF) (“ Aequus ” or the“ Company ”), announces today it has increased its debt by $1,000,000to support operating costs and the new sales of Zimed ® PF. Mr. DougJanzen, Chairman and Chief Executive Officer of the Company, hasagreed to provide financing to Aequus by way of advanced funds on thesame general conditions as previous advances, which is on demand withan interest rate of five percent (5%).
The loan involves a related party (as such term isdefined under Multilateral Instrument 61-101 – Protection of Minority Security Holders inSpecial Transactions (“ MI 61-101 ”)),specifically a director and senior officer of the Company, andconstitutes a related party transaction under MI 61-101. Thistransaction is exempt from the formal valuation and minorityshareholder approval requirements of MI 61-101 pursuant to sections5.5(b) and 5.7(1)(f) of MI 61-101, as the Company is not listed orquoted on any of the stock exchanges or markets listed in subsection5.5(b) of MI 61-101, and the Loan represents a loan from a relatedparty on reasonable commercial terms that are not less advantageous tothe Company than if the Loan were obtained from a person dealing atarm’s length and the Loan is not convertible or repayable insecurities.
ABOUT AEQUUS PHARMACEUTICALS INC.
Aequus Pharmaceuticals Inc. (TSX-V: AQS , OTCQB: AQSZF ) is a specialty pharmaceuticalcompany focused on developing and commercializing high quality,differentiated products. Aequus has grown its sales and marketingefforts to include several commercial products in ophthalmology.Aequus plans to build on its Canadian commercial platform through thelaunch of additional products that are either created internally orbrought in through an acquisition or license, remaining focused onhighly specialized therapeutic areas. For further information, pleasevisit www.aequuspharma.ca .
FORWARD-LOOKING STATEMENT DISCLAIMER
This release may containforward-looking statements or forward-looking information underapplicable Canadian securities legislation that may not be based onhistorical fact, including, without limitation, statements containingthe words “believe”, “may”, “plan”, “will”,“estimate”, “continue”, “anticipate”, “intend”,“expect”, “potential” and similar expressions. Forward-looking statements are necessarily based on estimates and assumptionsmade by us in light of our experience and perception of historicaltrends, current conditions and expected future developments, as wellas the factors we believe are appropriate. Forward-looking statementsinclude but are not limited to statements relating to: the use ofproceeds from the Loan; the potential for a further financingarrangement between the Company and Mr. Janzen; the expected timing for product launches; and the implementation of our businessmodel and strategic plans. Such statements reflect our current viewswith respect to future events and are subject to risks anduncertainties and are necessarily based upon a number of estimates andassumptions that, while considered reasonable by Aequus, areinherently subject to significant business, economic, competitive,political and social uncertainties and contingencies. Many factorscould cause our actual results, performance or achievements to bematerially different from any future results, performance, orachievements that may be expressed or implied by such forward-lookingstatements. In making the forward looking statements included in thisrelease, the Company has made various material assumptions. Inevaluating forward looking statements, current and prospectiveshareholders should specifically consider various factors set outherein and under the heading “Risk Factors” in the Company’sannual information form dated May 1, 2023, copies of which areavailable on Aequus’ profile on the SEDAR+ website at www.sedarplus.ca , and as otherwise disclosed from time totime on Aequus’ SEDAR+ profile. Should one or more of these risks oruncertainties, or a risk that is not currently known to usmaterialize, or should assumptions underlying those forward-lookingstatements prove incorrect, actual results may vary materially fromthose described herein. These forward-looking statements are made asof the date of this release and we do not intend, and do not assumeany obligation, to update these forward-looking statements, except asrequired by applicable securities laws. Investors are cautioned thatforward-looking statements are not guarantees of future performanceand are inherently uncertain. Accordingly, investors are cautioned notto put undue reliance on forward looking statements.
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Contact Information:
Aequus Investor Relations
Email: investors@aequuspharma.ca
Phone: 604-336-7906
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