(TheNewswire)
LONDON, ONTARIO - TheNewswire – February 24, 2021 – Sernova Corp.("Sernova" or the "Company") (TSXV:SVA)(OTC:SEOVF) (Frankfurt/Xetra:PSH), a leadingclinical-stage regenerative medicine therapeutics company, is pleasedto announce it has received a receipt for its final short formprospectus dated February 24, 2021 (the " Final Prospectus ") in connection with its previously announced boughtdeal offering of 16,700,000 units of the Company (the" Units ") at a price of C$1.20 per Unit for gross proceeds ofapproximately C$20,040,000 (the " Offering "). Canaccord Genuity Corp. and Leede Jones GableInc. are the co-lead underwriters (together, the " Underwriters ")of the Offering.
The Company expects to close the Offering on or aroundMarch 1, 2021.
The Company has granted the Underwriters an option,exercisable in part or in whole at the Underwriter's sole discretion,at any time until 30 days following closing, to purchase up to thatnumber of additional Units equal to 15% of the aggregate number ofUnits sold in the Offering.
The Final Prospectus was filed with the securitiesregulatory authorities in all provinces of Canada, except Quebec, andis available under the Company's SEDAR profile at www.sedar.com .
The securities referredto in this press release have not been, nor will they be, registeredunder the U.S. Securities Act or any U.S. state securities laws, andmay not be offered or sold within the United States or to, or for theaccount or benefit of, U.S. persons absent U.S. registration or anapplicable exemption from the U.S. registration requirements. Thispress release does not constitute an offer for sale of securities, nora solicitation for offers to buy any securities in the United States,nor in any other jurisdiction in which such offer, solicitation orsale would be unlawful. Any public offering of securities in theUnited States must be made by means of a prospectus containingdetailed information about the company and management, as well asfinancial statements.
Sernova is developingregenerative medicine therapeutic technologies using a medical deviceand immune protected therapeutic cells (i.e., human donor cells,corrected human cells, and stem cell-derived cells) to improve thetreatment and quality of life of people with chronic metabolicdiseases such as insulin-dependent diabetes, blood disorders includinghemophilia, and other diseases treated through replacement of proteinsor hormones missing or in short supply within the body. For moreinformation, please visit www.sernova.com .
FOR FURTHER INFORMATION, PLEASECONTACT:
Dominic Gray
Sernova Corp
Tel: (519) 858-5126
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 pressrelease.
Cautionary Statement RegardingForward-Looking Information
This press release contains'forward-looking information' within the meaning of applicableCanadian securities legislation. These statements relate to futureevents or future performance. The use of any of the words"could", "intend", "expect","believe", "will", "projected","estimated" and similar expressions and statements relating to matters thatare not historical facts are intended to identify forward-lookinginformation and are based on Sernova's current belief or assumptionsas to the outcome and timing of such future events. Forward lookinginformation in this press release includes information with respect tothe Offering, including the timing and ability of the Company to closethe Offering, receipt of all regulatory and stock exchange approvals,the intended use of proceeds by the Company and the exercise of theOver-allotment Option by the Underwriters. Forward-looking informationis based on reasonable assumptions that have been made by Sernova atthe date of the information and is subject to known and unknown risks,uncertainties, and other factors that may cause actual results orevents to differ materially from those anticipated in theforward-looking information. Examples of such risk factors include:the inability of the Company to close the Offering or to obtain allnecessary Exchange and regulatory approvals; credit; market (includingequity, foreign exchange and interest rate); liquidity; operational(including technology and infrastructure); reputational; insurance;strategic; regulatory; legal; environmental; capital adequacy; thegeneral business and economic conditions in the regions in which theCompany operates; the ability of the Company to execute on keypriorities, including the successful development of its productcandidates, and strategic plans and to attract, develop and retain keyexecutives; the ability to implement business strategies and pursuebusiness opportunities; disruptions in or attacks (includingcyber-attacks) on the Company's information technology; the failure ofthird parties to comply with their obligations to the Company or itsaffiliates; the impact of new and changes to, or application of,current laws and regulations governing the Company’s business;dependence on key suppliers; granting of permits and licenses;increased competition; changes in foreign currency rates; increasedfunding costs and market volatility due to market illiquidity andcompetition for funding; the availability of funds and resources topursue operations; critical accounting estimates and changes toaccounting standards, policies, and methods used by the Company; theoccurrence of natural and unnatural catastrophic events and claimsresulting from such events; risks related to COVID-19 includingvarious recommendations, orders and measures of governmentalauthorities to try to limit the pandemic, including travelrestrictions, border closures, nonessential business closures,quarantines, self-isolations, shelters-in-place and social distancing,disruptions to markets, economic activity, financing, supply chainsand sales channels, and a deterioration of general economic conditionsincluding a possible national or global recession; as well as thoserisk factors disclosed under the heading “Risk and Uncertainties”in the Company’s annual MD&A (dated February 1, 2021) for theyears ended October 31, 2020 and 2019, which has been filed on SEDARand is available under the Company’s profile at www.sedar.com. Giventhese risks, uncertainties and assumptions, you should not unduly relyon these forward-looking statements. The forward-looking informationcontained in this press release is made as of the date hereof, andSernova is not obligated to update or revise any forward-lookinginformation, whether as a result of new information, future events orotherwise, except as required by applicable securities laws. Theforegoing statements expressly qualify any forward-looking informationcontained herein.
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