(TheNewswire)
VANCOUVER, BC – TheNewswire - October 6, 2023 -Aequus Pharmaceuticals Inc. (TSXV:AQS ) , ( OTC:AQSZF) (“Aequus” or the “Company”), announcestoday it has increased its debt by $270,000 to support operating costsandthe new sales of Zimed ® PF. Mr. Doug Janzen, Chairman andChief Executive Officer of the Company, has agreed to providefinancing to Aequus by way of an unsecured demand loan of C$270,000(the “ Loan ”). The Loan bears interest at an annual rate oftwo and a half percent (2.5%) to be calculated and repaid monthly andis repayable on demand.
Doug Janzen shares “the launch of Zimed® PF is on track andprogressing well. We have completed submissions to private insurersacross Canada and have shipped stock to all the major wholesalers. Thefunds will be used to support general working capital and ourcommercial operations as we continue the momentum of the launch.”
On December 20 th , 2022, Aequus Pharmaceuticals announcedHealth Canada’s approval of Zimed ® PF (Bimatoprost 0.03%) for thereduction of elevated intraocular pressure (IOP) in patients withopen-angled glaucoma or ocular hypertension. This new product is theonly multi-dose preservative free prostaglandin analog (PGA) on themarket, offering patients the efficacy, convenience, and safetywithout the use of preservatives.
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 aspecialty pharmaceutical company focused on developing andcommercializing high quality, differentiated products. Aequus hasgrown its sales and marketing efforts to include several commercialproducts in ophthalmology. Aequus plans to build on its Canadiancommercial platform through the launch of additional products that areeither created internally or brought in through an acquisition orlicense, remaining focused on highly specialized therapeutic areas.For further information, please visit 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’s annual information form datedMay 1, 2023, copies of which are available on Aequus’ profile on theSEDAR website at www.sedarplus.ca , and asotherwise disclosed from time to time on Aequus’ SEDAR profile.Should one or more of these risks or uncertainties, or a risk that isnot currently known to us materialize, or should assumptionsunderlying those forward-looking statements prove incorrect, actualresults may vary materially from those described herein. Theseforward-looking statements are made as of the date of this release andwe do not intend, and do not assume any obligation, to update theseforward-looking statements, except as required by applicablesecurities laws. Investors are cautioned that forward-lookingstatements are not guarantees of future performance and are inherentlyuncertain. Accordingly, investors are cautioned not to put unduereliance 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
Copyright (c) 2023 TheNewswire - All rights reserved.