Nuvo Pharmaceuticals™ Announces Receipt of Shareholder Approval By Way of Written Consent For the Issuance of Common Shares Pursuant to Convertible Notes and Warrants
March 11, 2019
MISSISSAUGA, ON, March 11, 2019 /CNW/ - Nuvo Pharmaceuticals Inc. (Nuvo or the Company) (TSX:NRI; OTCQX:NRIFF) today announced that it has obtained consents from shareholders of the Company (Shareholders) holding, in the aggregate, more than 50% of the Company's issued and outstanding common shares (Common Shares), approving the issuance by the Company of Common Shares pursuant to the conversion of convertible notes (Convertible Notes) and the exercise of warrants (Warrants), which were issued to certain funds managed by Deerfield Management Company, L.P. in connection with the previously announced closing of the acquisition by Nuvo of a portfolio of more than 20 revenue-generating products, as well as the associated personnel and infrastructure to continue the products' management and growth from Aralez Pharmaceuticals Inc.
For a detailed description of the number of Common Shares which may be issued pursuant to the exercise of the Warrants and the conversion of the Convertible Notes, as well as the impact such issuance may have on the Company, Shareholders are encouraged to review the Notice of Solicitation of Consents by Nuvo, which has been filed and is available electronically under the Company's profile on SEDAR at www.sedar.com.
No Common Shares will be issued pursuant to a conversion of the Convertible Notes or an exercise of the Warrants until on or after March 18, 2019.
About Nuvo Pharmaceuticals Inc.
Nuvo (TSX: NRI; OTCQX: NRIFF) is a Canadian focused, healthcare company with global reach and a diversified portfolio of commercial products. The Company targets several therapeutic areas, including pain, allergy and dermatology. The Company's strategy is to in-license and acquire growth-oriented, complementary products for Canadian and international markets. Nuvo's head office is located in Mississauga, Ontario, Canada, the international operations are located in Dublin, Ireland and the U.S. Food and Drug Administration (FDA), Health Canada and E.U. approved manufacturing facility is located in Varennes, Québec, Canada. For additional information, please visit www.nuvopharmaceuticals.com.
About Deerfield Management Company, L.P.
Deerfield is an investment management firm, committed to advancing healthcare through investment, information and philanthropy. For more information about Deerfield, please visit www.deerfield.com.
SOURCE Nuvo Pharmaceuticals Inc.
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