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.
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SOURCE Nuvo Pharmaceuticals Inc.
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