Brisco News

Aequus (V:AQS) Pharmaceuticals appoints Lustig as director

By February 12, 2021No Comments

Aequus Pharmaceuticals Inc. intends to complete a non-brokered private placement of 6,666,666 units of the company at a price of 15 cents per unit, for aggregate gross proceeds of $1-million to Marc Lustig, who has concurrently agreed to join the Aequus board of directors as described in the release. Each unit shall consist of one common share of the company and one-half non-transferrable common share purchase warrant. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of 25 cents for a period of 24 months following the transaction closing date. Aequus expects the proposed financing to close on or about Feb. 26, 2021, subject to a number of conditions, including the execution of definitive documentation and receipt of final approval of the TSX Venture Exchange for the listing of the common shares issuable on closing.

Aequus intends to use the net proceeds of the proposed financing for general corporate and working capital purposes, including commercial and marketing activities and supporting continuing business development. Securities issued under the proposed financing will be subject to a four-month hold period in Canada following the date of closing.

“Aequus is pleased to welcome Marc Lustig who is joining the team as a director,” said Doug Janzen, Aequus chairman and chief executive officer. “I have worked with Marc on a number of successful projects over the years and we are delighted to add such an experienced and talented director. Marc has extensive North American capital markets experience and is a respected entrepreneur who founded and built Origin House before it was acquired by Cresco Labs. Marc’s expertise is expected to be a significant benefit to Aequus as we launch the Evolve and Revive Eye Care products and finalize the submission for Health Canada regarding Zymed-PF, a preservative free prescription drug for the treatment of Glaucoma.”

In connection with Mr. Lustig’s board appointment, the company plans to grant him 350,000 incentive stock options on Feb. 15, 2021, the effective date of his appointment. These stock options will be exercisable at today’s closing price per share, for a term of eight years, and vest in tranches during the next three years. The terms of the stock options will be in accordance with the company’s stock option plan.

About Aequus Pharmaceuticals Inc.

Aequus is a growing specialty pharmaceutical company focused on developing and commercializing high-quality, differentiated products. Aequus has grown its sales and marketing efforts to include several commercial products in ophthalmology and transplant. Aequus plans to build on its Canadian commercial platform through the launch of additional products that are either created internally or brought in through an acquisition or licence; remaining focused on highly specialized therapeutic areas.

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