TORONTO, May 4, 2017 /PRNewswire/ -Portage Biotech Inc.
("Portage") (OTCQB: PTGEF, Canadian Stock Exchange: PBT.U) announced today that Biohaven Pharmaceutical Holding Company
Ltd. ("Biohaven"), in which Portage holds an equity interest of approximately 28.3%, issued a press release today announcing the
pricing of its initial public offering of 9,900,000 of its common shares at an initial public offering price of $17 per share. In addition, Biohaven has granted the underwriters a 30-day option to purchase up to an
additional 1,485,000 common shares at the initial public offering price, less underwriting discounts and commissions.
Biohaven's common shares are expected to begin trading on the New York Stock Exchange on May 4,
2017 under the ticker symbol "BHVN." The offering is expected to close on May 9, 2017,
subject to customary closing conditions.
The offering will be made only by means of a prospectus. When available, copies of the final prospectus related to the
offering may be obtained from the offices of Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street,
2nd Floor, New York, New York 10014; or from Piper Jaffray &
Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by
telephone at (800) 747-3924, or by email at prospectus@pjc.com; or from
Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717, telephone: (888) 603-5847, e-mail: Barclaysprospectus@broadridge.com.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and
Exchange Commission (the "SEC"). Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state
or jurisdiction.
About Biohaven
Biohaven is a clinical-stage biopharmaceutical company with a portfolio of innovative, late-stage product candidates targeting
neurological diseases, including rare disorders. Biohaven has licensed intellectual property from companies and institutions
including Bristol-Myers Squibb Company, AstraZeneca AB, Yale University, Catalent, ALS Biopharma LLC
and Massachusetts General Hospital. Biohaven is a company organized under the laws of the British
Virgin Islands and its United States operations are based in New Haven, Connecticut.
About Portage
Portage is engaged in the discovery and development of pharmaceutical and biotech products through clinical "proof of concept"
with a focus on areas of unmet clinical need. Following proof of concept, Portage will seek to sell or license these products to
large pharmaceutical or biotechnology companies for further development and commercialization. Portage has an interest in novel
targeted therapies, stem cell therapies, and new indications for older marketed products that have been found to have novel
patentable characteristics that bring new value to patients.
Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. federal and Canadian securities laws. Any
such statements reflect Portage's current views and assumptions about future events and financial performance. Portage cannot
assure that future events or performance will occur. There are important risks and other factors that could cause actual results
or events to differ materially from those indicated in our forward-looking statements.
Portage assumes no obligation for, and expressly disclaims any duty to update, the information in this News Release.
SOURCE Portage Biotech Inc.