NASDAQ, TSX: NVCN
VANCOUVER, Feb. 22, 2019 /CNW/ - Neovasc Inc. ("Neovasc" or the
"Company") (NASDAQ: NVCN / TSX: NVCN) wishes to advise that it has filed the following amendments, which documents are publicly
available on SEDAR at www.sedar.com:
- unaudited amended and restated condensed interim financial statements for the period ended September 30, 2018 (the "A&R Interim Financials");
- amended and restated Management Discussion and Analysis for the period ended September 30,
2018 (the "A&R MD&A"); and
- Form 52-109F2R Certifications by the CEO and CFO pursuant to the provisions of National Instrument 52-109 –
Certification of Disclosure in Issuers' Annual and Interim Filings.
The A&R Interim Financials and A&R MD&A have been refiled as the Company did not accrue for the future payments to
be made under the terms of collaboration and settlement agreement with the University of Pennsylvania
as press released on August 3, 2018. The impact of the adjustment is to accrue for
$1,379,790 of additional future collaboration and settlement payments in the current period
increasing the loss for the period and the accrued liabilities as at September 30, 2018.
About Neovasc Inc.
Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing
cardiovascular marketplace. Its products include the Reducer, for the treatment of refractory angina, which is not currently
commercially available in the United States and has been commercially available in Europe since 2015, and the Tiara, for the transcatheter treatment of mitral valve disease, which is
currently under clinical investigation in the United States, Canada and Europe. For more information, visit: www.neovasc.com.
Forward-Looking Statement Disclaimer
Certain statements in this news release contain forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities laws that may not be based on historical
fact, including without limitation statements containing the words "believe", "may", "plan", "will", "estimate", "continue",
"anticipate", "intend", "expect" and similar expressions. Forward-looking statements may involve, but are not limited to, the
growing cardiovascular marketplace. Many factors and assumptions could cause the Company's actual results, performance or
achievements to differ materially from those expressed or implied by the forward-looking statements, including, without
limitation, the substantial doubt about the Company's ability to continue as a going concern; risks relating to the warrants (the
"Warrants") and senior secured convertible notes (the "Notes") issued pursuant to the November 2017
underwritten public offering and concurrent private placement (together, the "2017 Financings"), resulting in significant
dilution to the Company's shareholders; risks relating to the Company's need for significant additional future capital and the
Company's ability to raise additional funding; risks relating to cashless exercise and adjustment provisions in the Warrants and
Notes issued pursuant to the 2017 Financings, which could make it more difficult and expensive for the Company to raise
additional capital in the future and result in further dilution to investors; risks relating to the sale of a significant number
of common shares of the Company; risks relating to the exercise of Warrants or conversion of Notes issued pursuant to the 2017
Financings, which may encourage short sales by third parties; risks relating to the possibility that the common shares of the
Company may be delisted from the Nasdaq Capital Market or the Toronto Stock Exchange, which could affect their market price and
liquidity; risks relating to the Company's common share price being volatile; risks relating to the influence of significant
shareholders of the Company over the Company's business operations and share price; risks relating to the Company's significant
indebtedness, and its effect on the Company's financial condition; risks relating to claims by third parties alleging
infringement of their intellectual property rights; risks relating to lawsuits that the Company is subject to, which could divert
the Company's resources and result in the payment of significant damages and other remedies; the Company's ability to establish,
maintain and defend intellectual property rights in the Company's products; risks relating to results from clinical trials of the
Company's products, which may be unfavorable or perceived as unfavorable; the Company's history of losses and significant
accumulated deficit; risks associated with product liability claims, insurance and recalls; risks relating to use of the
Company's products in unapproved circumstances, which could expose the Company to liabilities; risks relating to competition in
the medical device industry, including the risk that one or more of the Company's competitors may develop more effective or more
affordable products; risks relating to the Company's ability to achieve or maintain expected levels of market acceptance for the
Company's products, as well as the Company's ability to successfully build its in-house sales capabilities or secure third-party
marketing or distribution partners; the Company's ability to convince public payors and hospitals to include the Company's
products on their approved products lists; risks relating to new legislation, new regulatory requirements and the efforts of
governmental and third-party payors to contain or reduce the costs of healthcare; risks relating to increased regulation,
enforcement and inspections of participants in the medical device industry, including frequent government investigations into
marketing and other business practices; risks associated with the extensive regulation of the Company's products and trials by
governmental authorities, as well as the cost and time delays associated therewith; risks associated with post-market regulation
of the Company's products; health and safety risks associated with the Company's products and industry; risks associated with the
Company's manufacturing operations, including the regulation of the Company's manufacturing processes by governmental authorities
and the availability of two critical components of the Reducer; risk of animal disease associated with the use of the Company's
products; risks relating to the manufacturing capacity of third-party manufacturers for the Company's products, including risks
of supply interruptions impacting the Company's ability to manufacture its own products; risks relating to the Company's
dependence on limited products for substantially all of the Company's current revenues; risks relating to the Company's exposure
to adverse movements in foreign currency exchange rates; risks relating to the possibility that the Company could lose its
foreign private issuer status under U.S. federal securities laws; risks relating to breaches of anti-bribery laws by the
Company's employees or agents; risks associated with future changes in financial accounting standards and new accounting
pronouncements; risks relating to the Company's dependence upon key personnel to achieve its business objectives; the Company's
ability to maintain strong relationships with physicians; risks relating to the sufficiency of the Company's management systems
and resources in periods of significant growth; risks associated with consolidation in the health care industry, including the
downward pressure on product pricing and the growing need to be selected by larger customers in order to make sales to their
members or participants; risks relating to the Company's ability to successfully identify and complete corporate transactions on
favorable terms or achieve anticipated synergies relating to any acquisitions or alliances; risks relating to the Company's
ability to successfully enter into fundamental transactions as defined in the Series C warrants issued pursuant to the 2017
Financings; anti-takeover provisions in the Company's constating documents which could discourage a third party from making a
takeover bid beneficial to the Company's shareholders; and risks relating to conflicts of interests among the Company's officers
and directors as a result of their involvement with other issuers. These risk factors and others relating to the Company are
discussed in greater detail in the "Risk Factors" section of the Company's Annual Report on Form 20-F and in Management's
Discussion and Analysis for the quarter ended September 30, 2018 (copies of which may be obtained
at www.sedar.com or www.sec.gov). The Company has no intention and undertakes no obligation to update or
revise any forward-looking statements beyond required periodic filings with securities regulators, whether as a result of new
information, future events or otherwise, except as required by law.
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SOURCE Neovasc Inc.
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