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  • Valeo Pharma (VPH) has upsized its offering of unsecured debentures from $10,000,000 to $15,000,000
  • Investissement Québec has committed to a concurrent private placement of $10,000,000 of convertible unsecured debentures
  • The net proceeds of $25M will be used to market the recently launched products (Redesca™, Enerzair®, and Atectura®) and support an upcoming TSX listing application
  • The closing of the offering and concurrent private placement is expected to occur on or about December 9, 2021
  • Valeo Pharma Inc. (VPH) opened trading at C$0.68 per share

Valeo Pharma (VPH) has upsized its offering of unsecured debentures from $10,000,000 to $15,000,000.

The debentures will mature on December 31, 2024, and will accrue interest at the rate of 12.0 per cent per annum, payable quarterly beginning on March 31, 2022.

At the holder’s option, the debentures may be converted into common shares at any time up to the maturity date, at a conversion price of $1.15 per common share. Valeo plans to list the debentures on the CSE.

Investissement Québec has committed to a concurrent private placement of $10,000,000 of convertible unsecured debentures issuable on the same terms as those issuable pursuant to the offering, resulting in aggregate gross proceeds from the debenture offering and private placement of $25,000,000.

The net proceeds will be used to market the recently launched products (Redesca™, Enerzair®, and Atectura®) and support an upcoming TSX listing application.

The debentures and any common shares issued will be subject to a statutory hold period of four months and one day following the closing date.

The closing of the offering and concurrent private placement is expected to occur on or about December 9, 2021.

Valeo Pharma is a Quebec-based pharmaceutical company dedicated to the commercialization of innovative prescription products with a focus on Respirology, Neurodegenerative Diseases, Oncology and other specialty products.

Valeo Pharma Inc. (VPH) opened trading at C$0.68 per share.

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