Vancouver, British Columbia – (Newsfile Corp. – January 11, 2021) – iCo Therapeutics Inc. (TSXV: ICO) (OTCQB: ICOTF) (“iCo” or the “Company”) announces that it is filing an application with the TSX Venture Exchange to amend the exercise price of 66,200,000 previously granted warrants to purchase common stock (the “Warrants”) issued in a private placement of 25,000,000 units between January 31, 2019 and March 4 Completed in 2019 over multiple tranches (the “Spring 2019 Private Placement”) and pursuant to a private placement of 41,200,000 units that closed on August 16, 2019 (“Summer 2019 Private Placement”).
Subject to the approval of the TSX Venture Exchange, the company is changing the exercise price of the warrants from $ 0.075 to $ 0.065 per warrant. The warrants issued as part of the private placement in spring 2019 can be exercised between January 31, 2022 and March 4, 2022. The warrants issued as part of the private placement in summer 2019 can be exercised until August 16, 2022. To date, 3,190,000 warrants have been exercised.
“iCo pursued a number of strategic initiatives throughout 2020. We hope one or more of these will take effect in early 2021. By lowering the exercise price of the warrants, we believe that more warrants could be exercised and we are enabling the company to do so to capitalize on these opportunities, “said William Jarosz, iCo’s chief executive officer.
About iCo Therapeutics
iCo Therapeutics identifies existing assets under development for use in underserved eye and infectious diseases. Such assets may be of use in non-ophthalmic conditions outside of the company’s core business activities. In this case, the company will seek additional value through partnerships. iCo shares trade on the TSX Venture Exchange under the symbol “ICO” and on the OTCQB under the symbol “ICOTF”.
For more information, please visit the company’s website at: www.icotherapeutics.com.
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No regulatory authority has approved or disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Certain statements made in this press release may be considered “forward-looking information” within the meaning of applicable securities laws. Forward-looking information can be identified by words such as “anticipate,” “intend,” “plan,” “aim,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategic,” “future.” “,” likely “,” may “,” should “,” will “and similar references to future periods. Such statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those implied in these statements. Therefore, these statements should not be read as guarantees of future performance or results. Forward-looking statements in this press release include statements regarding changes in the exercise price of the warrants. All forward-looking statements are based on iCo’s current beliefs and assumptions and information currently available to iCo and relate, among other things, to expected financial performance, business prospects, strategies, regulatory developments, market acceptance and future obligations. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based only on information currently available to iCo and speak only as of the date of this press release. Actual events could differ materially from current expectations due to risks and uncertainties, including those risks and uncertainties identified by iCo in its public security filings and on its website. iCo disclaims any intention or obligation to update or revise any forward-looking statements as a result of new information, future events or for any other reason, except as required by law.
iCo Therapeutics Inc.
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The source version of this press release can be found at https://www.newsfilecorp.com/release/71814