LSL Pharma Group Announces Closing of First Tranche of Convertible Debentures Offering
LSL Pharma Group Announces Closing of First Tranche of Convertible Debentures Offering
BOUCHERVILLE, Québec, Nov. 01, 2023 (GLOBE NEWSWIRE) -- LSL Pharma Group Inc. (TSXV: LSL) – (the "Company" or "LSL Pharma Group"), a Canadian integrated pharmaceutical company, is pleased to announce that further to its press release of September 21, 2023, the Company has closed the first tranche of its brokered private placement (the "Offering") through the issuance of 229,300 unsecured convertible debentures (each a "Debenture") at a price of $10 per Debenture for gross proceeds of $2,293,000 out of a maximum of $5,000,000 (assuming the full exercise of the agent's option to increase the size of the Offering by up to $1.0 million). The net proceeds of the Offering will be used for working capital, capital expenditures, and for general corporate purposes.
魁北克鮑徹維爾,2023年11月1日(GLOBE NEWSWIRE)——加拿大綜合製藥公司LSL Pharma Group Inc.(多倫多證券交易所股票代碼:LSL)(“公司” 或 “LSL Pharma Group”)欣然宣佈,繼2023年9月21日的新聞稿之後,該公司已通過發行股票完成了第一批經紀私募股份(“發行”)229,300張無抵押可轉換債券(每張 “債券”),每張債券的價格爲10美元,總收益爲2,293,000美元,最高爲500萬美元(假設全部行使)代理商可以選擇將本次發行的規模擴大至100萬美元)。本次發行的淨收益將用於營運資金、資本支出和一般公司用途。
The Offering was led by iA Capital Markets as sole agent and sole bookrunner (the "Agent"). In connection with the first tranche of the Offering, the Company paid to the Agent a cash commission of $160,510 and issued 229,300 broker warrants (the "Broker Warrants"). The Broker Warrants are exercisable to acquire one Class A Share of the Company at a price of $0.70 for a period of 24 months from the date of issuance. The Company and the Agent are dealing at arm's length.
本次發行由iA Capital Markets作爲獨家代理人和唯一賬簿管理人(“代理人”)牽頭。在本次發行的第一部分中,公司向代理人支付了160,510美元的現金佣金,併發行了229,300份經紀人認股權證(“經紀認股權證”)。經紀人認股權證可行使以0.70美元的價格收購本公司的一股A類股票,期限爲自發行之日起24個月。該公司和代理商正在保持一定距離的交易。
All securities issued pursuant to the Offering are subject to the applicable statutory hold period of four months and one day from November 1, 2023 (the "Initial Closing Date"). The Offering is subject to the final approval of the TSX Venture Exchange (the "TSXV").
根據本次發行發行的所有證券均受適用的法定持有期的約束,即自2023年11月1日(“初始截止日期”)起的四個月零一天。本次發行尚待多倫多證券交易所風險交易所(“TSXV”)的最終批准。
The Company has received conditional approval to list the Debentures on the TSXV after the expiry of each applicable hold period. The Debentures are expected to trade under the symbol LSL.DB. The listing of the Debentures is subject to final approval by the TSXV at the time of listing and the Company fulfilling the requirements as outlined in Policy 2.8 of the TSXV's policies.
在每個適用的持有期到期後,公司已獲得有條件的批准,可以在多倫多證券交易所上市債券。預計這些債券將以 LSL.DB 的代碼進行交易。債券的上市須經多倫多證券交易所上市時的最終批准,並且公司符合多倫多證券交易所政策2.8中概述的要求。
Each Debenture will, at the option of the holder, be convertible in its entirety into Class A shares of the capital stock of the Company (the "Class A Shares") at any time prior to the close of business on the earlier of: (i) the last business day immediately preceding the Maturity Date, and (ii) the date fixed for redemption, at a conversion price of $0.70 per Class A Share (the "Conversion Price"), subject to adjustment in certain events.
每張債券可由持有人選擇,在營業結束前的任何時候全部轉換爲公司A類股本(“A類股票”),但以每股A類股票0.70美元(“轉換價格”)爲準,但以每股A類股票0.70美元(“轉換價格”)中較早者爲準:(i)到期日前的最後一個工作日,以及(ii)預定贖回日期在某些情況下進行調整。
The Debentures will, subject to any prior conversion or redemption, mature on October 31st, 2028 ("Maturity Date") and are payable on the Maturity Date in cash. The outstanding principal amount will bear interest at the rate of 11.00% (the "Base Rate") per year, payable in cash semi-annually on the last day of April and October of each year with the first interest payment to be paid on October 31, 2024 ("First Interest Payment Date"). Interest will accrue from the Initial Closing Date up to the First Interest Payment Date at the Base Rate, compounding semi-annually on the last day of April and October of each year (the "Interest Period").
債券將於10月31日到期,但須事先進行任何轉換或兌換st,2028 年(“到期日”),並在到期日以現金支付。未償本金將按每年11.00%的利率(“基準利率”)支付利息,每半年在每年4月和10月的最後一天以現金支付,第一筆利息將於2024年10月31日(“首次利息支付日”)支付。利息將按基準利率從初始截止日起至首次利息支付日累積,每半年在每年的4月和10月的最後一天(“利息期”)累積一次。
The annual interest rate will be recalculated twice every year on April 30th and October 31st of each year, starting April 30th, 2025 (each an "Interest Rate Review Date") until the Maturity Date, and shall be equal to the Base Rate less 100 basis points (1.0%) for each Business Objective (as defined below) achieved (the "Amended Base Rate"). Upon achievement of a Business Objective, the Amended Base Rate will be effective as of the following interest payment date of the Debentures (after April 30, 2025) until the next interest payment date thereafter if Business Objective 3 (as defined below) is achieved or until the Maturity Date if a Business Objective 1 or 2 (as defined below) is achieved.
年利率將在每年4月30日和10月31日重新計算兩次st 每年的,從 4 月 30 日開始第四,2025 年(均爲 “利率審查日”),直至到期日,應等於基準利率減去已實現的每個業務目標(定義見下文)的100個點子(1.0%)(“修正後的基準利率”)。業務目標實現後,修正後的基準利率將從債券的下一個利息支付日(2025年4月30日之後)生效,如果業務目標3(定義見下文)得以實現,則直到下一個利息支付日,或者如果業務目標1或2(定義見下文)得以實現,則直到到期日爲止。
Business Objectives (each a "Business Objective"):
業務目標(均爲 “業務目標”):
- the obtention by the Company of FDA approval for its Steri-Med plant (one-time business objective);
- the completion by the Company of the acquisition of a business which: 1) complements the Company's existing product offering and/or creates synergies with the Company's existing business operations and 2) generated a minimum of CAD$5.0 million in revenue during the last twelve-month (12) period preceding the acquisition (one-time business objective); or
- the Company generates a minimum of CAD$30 million of revenue with a 20% EBITDA margin during the fiscal period preceding the Interest Rate Review Date (annual business objective). With respect to (3), the Company's financial performance and revenue shall be calculated based on its audited financial statements and the Company's EBITDA margin shall be calculated as EBITDA (not adjusted EBITDA), as calculated in its audited financial statements, divided by its revenue (the "Business Objective 3", and the "Business Objective 1 or 2" means the Business Objective other than Business Objective 3).
- 該公司要求其Steri-Med工廠獲得美國食品藥品管理局的批准(一次性業務目標);
- 公司完成對以下業務的收購:1) 補充公司現有的產品供應和/或與公司現有業務運營產生協同效應;2) 在收購前的最後十二個月 (12) 期間創造了至少 500 萬加元的收入(一次性業務目標);或
- 在利率審查日(年度業務目標)之前的財政期間,公司創造了至少3000萬加元的收入,息稅折舊攤銷前利潤率爲20%。關於 (3),公司的財務業績和收入應根據其經審計的財務報表計算,公司的息稅折舊攤銷前利潤率應按經審計的財務報表中計算的息稅折舊攤銷前利潤(未調整後的息稅折舊攤銷前利潤)除以其收入(“業務目標3”,“業務目標1或2” 指業務目標3以外的業務目標)計算。
If, at any time following the date that is 24 months from the Initial Closing Date, for the preceding 20 consecutive trading days (i) the daily volume weighted average trading price of the Class A Shares on the TSXV is greater than 175% of the Conversion Price; and (ii) the average daily volume of the Class A Shares traded on the TSXV is no less than the number obtained when dividing the number of shares issued upon conversion of the total amount of Debentures outstanding by twenty (20), the Company will have the option to convert all of the principal amount outstanding of the Debentures at the Conversion Price with at least 30 days' prior written notice.
如果自初始收盤日起24個月之後的任何時候,在連續20個交易日內(i)多倫多證券交易所A類股票的每日成交量加權平均交易價格大於轉換價格的175%;(ii)在多倫多證券交易所交易的A類股票的平均每日交易量不少於DebenxV總額轉換後發行的股票數量除以所得的數字到二十 (20) 筆未償還債券,公司可以選擇轉換所有本金至少提前30天發出書面通知,按轉換價償還債券。
Disclaimers
免責聲明
The securities issued in connection with the Offering mentioned herein have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of securities in Canada will be made on a basis which is exempt from the prospectus and, when applicable, dealer registration requirements of such securities laws. Furthermore, none of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or of any other jurisdiction, and none of them may be offered or sold in the United States or in any other jurisdiction absent registration or an applicable exemption from the registration requirements of the 1933 Act or of any other jurisdiction. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
根據適用的加拿大證券法,與本次發行相關的證券過去和將來都沒有資格向公衆出售,因此,在加拿大進行的任何證券要約和銷售都將不受招股說明書約束,適用時不受此類證券法的交易商註冊要求的約束。此外,與本次發行相關的證券均不得根據經修訂的1933年《美國證券法》(“1933年法案”)或任何其他司法管轄區進行註冊,如果沒有註冊或不受1933年法案或任何其他司法管轄區的註冊要求的適用豁免,則不得在美國或任何其他司法管轄區發行或出售。在根據任何此類司法管轄區的證券法進行註冊或獲得資格之前,本新聞稿不應構成出售要約或購買要約的邀請,也不得在任何此類司法管轄區的證券法下進行任何此類要約、招標或出售任何證券。
Forward-Looking Statements
前瞻性陳述
Information provided and statements contained in this press release that are not purely historical, such as those on the revenue and the EBITDA, are forward-looking statements within the meaning of the applicable securities laws. Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to LSL Pharma Group's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee", "ensure" or other similar expressions concerning matters that are not historical facts. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. LSL Pharma Group will not update these statements unless applicable securities laws require LSL Pharma Group to do so.
根據適用的證券法,本新聞稿中提供的信息和包含的非純歷史陳述,例如有關收入和息稅折舊攤銷前利潤的陳述,均爲前瞻性陳述。本新聞稿中的某些陳述可能構成證券法所指的前瞻性信息。前瞻性信息可能與LSL Pharma Group的未來展望和預期事件、業務、運營、財務業績、財務狀況或業績有關,在某些情況下,可以用 “可能”;“應該”;“預期”;“預期”;“相信”;“打算”;“估計”;“預測”;“潛力”;“繼續”;“預見”,“” “確保” 或其他有關非歷史事實事項的類似表述。讀者不應過分重視前瞻性信息,也不應在任何其他日期依賴這些信息。除非適用的證券法要求LSL Pharma Group更新這些聲明,否則LSL Pharma Group不會更新這些聲明。
ABOUT LSL PHARMA GROUP INC.
關於 LSL PHARMA GROUP INC.
LSL Pharma Group is a Canadian integrated pharmaceutical company specializing in the development, manufacturing and distribution of high-quality natural health products and dietary supplements in solid dosage forms, as well as high quality sterile ophthalmic pharmaceutical products. For more information, please visit and .
LSL Pharma Group是一家加拿大綜合製藥公司,專門開發、製造和分銷高質量天然保健品和固體劑型膳食補充劑,以及高質量的無菌眼科藥品。欲了解更多信息,請訪問和。
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
也不 這 TSX 創業 交換 也不 它的 規則 服務 提供商 (如 那個 術語 是 被定義 在 的政策 這 TSX Venture 交易所) 承擔責任 爲了 充足性或 準確性 的 這個 發佈。
CONTACT:
François Roberge, President and Chief Executive Officer
Telephone: 514-664-7700
Email: Investors@groupelslpharma.com
聯繫人:
弗朗索瓦·羅伯奇,總裁兼首席執行官
電話:514-664-7700
電子郵件:Investors@groupelslpharma.com