SAINT LAURENT, QUEBEC--(Marketwired - Aug 8, 2017) - IntelGenx Technologies Corp. (TSX VENTURE:IGX)(OTCQX:IGXT) (the
"Corporation" or "IntelGenx") is pleased to announce that it has closed a second tranche of its
prospectus offering (the "Offering") of convertible unsecured subordinated debentures of the Corporation (the
"Debentures"), pursuant to which it has raised additional gross proceeds of CDN$762,000.
Together with the principal amount of CDN$6,838,000 of Debentures issued on July 12, 2017 (the "Initial Issuance
Date"), the Corporation has now issued an aggregate principal amount of CDN$7,600,000 of Debentures at a price of
CDN$1,000 per Debenture (the "Offering").
The Debentures will mature on June 30, 2020 and bear interest from the Initial Issuance Date at an annual rate of 8% payable
semi-annually on the last day of June and December of each year, commencing on December 31, 2017. The Debentures will be
convertible at the option of the holders at any time prior to the close of business on the earlier of June 30, 2020 and the
business day immediately preceding the date specified by the Corporation for redemption of Debentures. The conversion price will
be CDN$1.35 (the "Conversion Price") per common share of the Corporation ("Share"), being a
conversion rate of approximately 740 Shares per CDN$1,000 principal amount of Debentures, subject to adjustment in certain
events.
The Debentures are not redeemable prior to June 30, 2018. On or after June 30, 2018, but prior to June 30, 2019, the
Debentures may be redeemed at the Corporation's sole option, in whole or in part, from time to time on required prior notice at a
redemption price equal to the principal amount of the Debentures, provided that the current market price on the date on which
such notice of redemption is given is not less than 125% of the Conversion Price. On or after June 30, 2019 and prior to June 30,
2020, the Debentures may be redeemed at the Corporation's sole option, in whole or in part, from time to time on required prior
notice, at a redemption price equal to the principal amount of the Debentures, irrespective of the current market price. In
addition thereto, at the time of redemption, the Corporation will pay to the holder accrued and unpaid interest up to but not
including the date of redemption.
The Debentures were distributed under a short form prospectus dated June 28, 2017 filed by the Corporation in connection with
the Offering and available on SEDAR at www.sedar.com. The Offering was
conducted, on a best efforts basis, by a syndicate of agents led by Desjardins Capital Markets and including Laurentian Bank
Securities Inc. and Echelon Wealth Partners Inc. (collectively, the "Agents"). In consideration for the services
rendered by the Agents in connection with this second tranche of the Offering, the Corporation has paid the Agents an agency fee
of CDN$45,720.
The Debentures issued in connection with the first and second tranches were listed and posted for trading on the TSX Venture
Exchange under the stock symbol IGX.DB.
The Corporation intends to use the aggregate net proceeds from the Offering for capital expansion, clinical studies, product
development and general working capital requirements.
The Debentures and the common shares issuable upon conversion, redemption or maturity of the Debentures have been registered
with the United States Securities and Exchange Commission pursuant to a Form S-1 Registration Statement that was declared
effective on July 11, 2017 (the "Registration Statement").
About IntelGenx:
Established in 2003, IntelGenx is a leading oral drug delivery company primarily focused on the development and manufacturing
of innovative pharmaceutical oral films based on its proprietary VersaFilm™ technology platform.
IntelGenx' highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D,
analytical method development, clinical monitoring, IP and regulatory services. IntelGenx' state-of-the-art manufacturing
facility, established for the VersaFilm™ technology platform, supports lab-scale to pilot and commercial-scale production,
offering full service capabilities to its clients. More information about the company can be found at www.intelgenx.com.
Forward Looking Information and Statements:
This document may contain forward-looking information or forward-looking statements within the meaning of applicable U.S. and
Canadian securities laws. These statements are statements that are not purely historical and include, but are not limited to,
statements about the use of the Offering proceeds, IntelGenx' plans, objectives, expectations, strategies, intentions or other
characterizations of future events or circumstances and are generally identified by the words "may", "expects", "anticipates",
"intends", "plans", "believes", "seeks", "estimates", "could", "would", and similar expressions. These forward-looking statements
include statements regarding the terms of the Offering, any potential redemptions and the use of proceeds. All forward looking
statements are expressly qualified in their entirety by this cautionary statement. Because these forward-looking statements are
subject to a number of risks and uncertainties, IntelGenx' actual results could differ materially from those expressed or implied
by these forward looking statements.
Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading
"Risk Factors" in the Registration Statement and in IntelGenx' annual report on Form 10-K, filed with the United States
Securities and Exchange Commission and available at www.sec.gov, and also filed
with Canadian securities regulatory authorities and www.sedar.com. IntelGenx
assumes no obligation to update any such forward-looking statements.
Although the Corporation believes that the expectations and assumptions on which Forward-Looking Information is based are
reasonable, readers of this press release are cautioned not to rely unduly on this Forward-Looking Information since no assurance
can be given that they will prove to be correct. The Corporation does not undertake any obligation to update or revise any
Forward-Looking Information, whether as a result of events or circumstances occurring after the date of this press release,
unless so required by legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the contents of this press release. This press
release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Corporation in any
jurisdiction in which such offer or solicitation of sale would be unlawful.