Transaction|July 14, 2011
Trimel Pharmaceuticals completes going public transaction and private placement
Torys acted as counsel to the syndicate of agents with a team that included Cheryl Reicin, Thomas Yeo, Alison Harnick, Sumeet Dang, Eli Monas (corporate and securities), Eileen McMahon, Ingrid VanderElst and Karen Townsend (IP).
On July 14, 2011, Trimel Pharmaceuticals Corporation (Trimel), formerly named J5 Acquisition Corp., and Trimel BioPharma Holdings Inc. (Holdings) announced the completion of a qualifying transaction (the Transaction) pursuant to Policy 2.4 - Capital Pool Companies of the TSX Venture Exchange. Pursuant to the Transaction, Holdings amalgamated with Trimel's wholly-owned Barbadian subsidiary, J5 (Barbados), Inc. in accordance with the previously announced amalgamation agreement (Amalgamation Agreement) dated March 2, 2011. Trimel acquired all of the issued and outstanding common shares of Holdings in exchange for the issuance of Trimel common shares to previous Holdings shareholders on the basis of two Holdings shares for one Trimel share. The common shares of Trimel have been delisted from the TSX Venture Exchange and relisted for trading on the Toronto Stock Exchange under the symbol "TRL".
Concurrent with the Transaction, Holdings completed a private placement of its securities to accredited investors and other exempt purchasers on July 14, 2011 (the Private Placement). Pursuant to the Private Placement, Holdings offered US$30,356,939 worth of units, each unit consisting of a share of Holdings and warrant to purchase shares of Holdings. Pursuant to the Amalgamation Agreement, each such share and warrant has been exchanged for shares and warrants of Trimel on the basis of two securities of Holdings for one security of Trimel. The private placement component of the transaction was completed through a syndicate of agents led by GMP Securities L.P. and Cannaccord Genuity Corporation.
Trimel Pharmaceuticals Corporation is a leader in developing quality of life pharmaceuticals.
GMP Securities L.P. is an independent investment dealer serving corporate, institutional and individual clients in three integrated business segments: Capital Markets, Wealth Management and Alternative Investments.
Cannaccord Genuity Corporation is the global capital markets division of Cannaccord Financial Inc., offering institutional and corporate clients idea-driven investment banking, research, sales and trading services from 16 offices worldwide.
Further information can be found on Canada News Wire.
Concurrent with the Transaction, Holdings completed a private placement of its securities to accredited investors and other exempt purchasers on July 14, 2011 (the Private Placement). Pursuant to the Private Placement, Holdings offered US$30,356,939 worth of units, each unit consisting of a share of Holdings and warrant to purchase shares of Holdings. Pursuant to the Amalgamation Agreement, each such share and warrant has been exchanged for shares and warrants of Trimel on the basis of two securities of Holdings for one security of Trimel. The private placement component of the transaction was completed through a syndicate of agents led by GMP Securities L.P. and Cannaccord Genuity Corporation.
Trimel Pharmaceuticals Corporation is a leader in developing quality of life pharmaceuticals.
GMP Securities L.P. is an independent investment dealer serving corporate, institutional and individual clients in three integrated business segments: Capital Markets, Wealth Management and Alternative Investments.
Cannaccord Genuity Corporation is the global capital markets division of Cannaccord Financial Inc., offering institutional and corporate clients idea-driven investment banking, research, sales and trading services from 16 offices worldwide.
Further information can be found on Canada News Wire.