Press Room

    Back

    Press Release - November 10, 2003

    Pheromone Sciences Corp Announces Rights Offering


    Toronto -- November 10, 2003 -- Pheromone Sciences Corp. (TSX Venture: PHS) -- Pheromone Sciences Corp. ("Pheromone" or the "Company") today announced that it will be conducting a Rights Offering in which it will issue to holders of its outstanding common shares as of November 20, 2003 one Right for each common share held. Every four Rights will entitle shareholders resident in British Columbia, Alberta, Manitoba and Ontario (the "Qualifying Jurisdictions") to subscribe for one common share of Pheromone at a subscription price of $0.11 at anytime on or prior to December 12, 2003. Rights of shareholders resident outside the Qualifying Jurisdictions will be held by CIBC Mellon Trust Company who will attempt to sell such Rights at such prices and otherwise in such manner as it may determine in its sole discretion. The Rights will be listed and posted for trading on the TSX Venture Exchange. Minimum gross proceeds of $285,000 are required to be raised through this Rights Offering to continue the Company as a going concern beyond December 31, 2003.

    "The company needs working capital while we are in discussions with several potential commercialization partners for our PSC Fertility Monitor(�) . We remain enthused with our current technology and the company's prospects as described in the offering circular", said Christopher Neuman, President and CEO, Pheromone Sciences.

    In recognition of the financial position of the Company and in consideration of the Chief Executive Officer and the Chief Financial Officer waiving any entitlement to severance or termination pay on termination of employment or to accrued vacation pay, and as an inducement to both officers, the Company has granted to these individuals, subject to regulatory approval, the right to earn a bonus payable in common shares of the Company. The Chief Executive Officer can earn 1,000,000 shares and the Chief Financial Officer can earn 600,000 shares if one of several milestones are achieved by March 1, 2004, including, the Company entering into a licensing agreement or other commercialization agreement for its PSC Fertility Monitor(tm), or a financing for gross proceeds of a minimum of $1 million or a sale or merger of the Company.

    For further information with respect to the Rights Offering please contact Christopher Neuman, President and Chief Executive Officer or Larry Cooper, Chief Financial Officer at 416-861-9854.

    Pheromone Sciences Corp. is a biotechnology and medical diagnostics device research and development company that focuses on commercializing technologies in the field of human and animal reproduction.

    Pheromone Sciences Corp is a member of MEDEC, which is the national industry association representing over 120 medical device and diagnostic companies. Member companies are dedicated to serving the health care community through the provision of high quality medical products and services that benefit Canadians.

    Statements contained in this press release, including those pertaining to scientific and clinical research, commercialization plans, strategic alliances, and intellectual property protection, other than statements of historical fact, are forward-looking statements subject to a number of uncertainties that could cause actual results to differ materially from statements made. The TSX Ventures Exchange has not reviewed and does not accept responsibility for the adequacy or the contents of this news release.

    Back



    Press Releases from:

    2017 2016 2015 2014 2013 2012 2011

    2010 2009 2008 2007 2006 2005 2004

    2003 2002 2001 2000 1999

    Featured News

    2014, January 22

    Sernova’s Disruptive Regenerative Medicine Technologies Set to Improve the Treatment of Chronic Diseases While Reducing Healthcare Costs

    Link

    2012, July 11

    Sernova Corp. developing a tiered approach to the treatment of diabetes

    Publisher: Canadian Investor Magazine
    Author: Rochelle Emnance

    PDF

    2012, July 30

    Feds back local diabetes discovery

    Publisher: London Free Press
    Author: Norman De Bono

    2012, July 30

    Federal program pumps $3 million into new, London business

    Publisher: The London Free Press

    Author: Norman De Bono

    2010 July 10

    Canada's economic action plan supports business innovators

    Publisher: Federal Economic Development Agency for Southern Ontario

    Link

    2007, February 20

    "Transplanted cells may protect against diabetes without forced drug use: An interview with Dr. David White"

    Publisher: StockInterview.com
    Author: Julie Ickes and James Finch

    2006, October 04

    "Sertoli Cells: Mother nature's anti-rejection drug"

    Publisher: StockInterview.com
    Author: James Finch

    2006, August 24

    "Mass marketing diabetes reversal; novel xeno-transplants may offer new hope for type 1 diabetics"

    Publisher: StockInterview.com
    Author: James Finch

    Presentation and Video

    September 11, 2017

    Sernova Fact Sheet

    September 11, 2017

    Sernova's 2017 Corporate Presentation

    PDF Presentation

    Subscribe to Sernova News

Subscribe to our News Dispatch Service

* indicates required




Latest Video and Presentation


Sernova Fact Sheet - / September 11, 2017 Open


Sernova's 2017 Corporate Presentation - PDF Presentation / September 11, 2017 Open

All Presentations →