VICTORIA, BC, Nov. 17, 2020 /CNW/ - IMMUNOPRECISE ANTIBODIES
LTD. (the "Company" or "ImmunoPrecise") (TSXV: IPA)
(OTCQB: IPATF) (FSE: TQB2), a leader in full-service, therapeutic
antibody discovery and development, today announced that, further
to a news release issued on November 4,
2020, subject to the approval of the TSX Venture Exchange,
the consolidation of the Company's issued and outstanding common
shares (the "Common Shares") on the basis of five (5)
pre-consolidation Common Shares for one (1) post-consolidation
Common Share (the "Consolidation") will be effective as of
market open on November 23, 2020. The
Company's stock symbol will remain unchanged. The ISIN and CUSIP
numbers for the Common Shares will be CA45257F2008 and 45257F200,
respectively.
The Consolidation will result in the number of issued and
outstanding Common Shares being reduced from 83,809,015 to
16,761,803, and each shareholder will hold the same
percentage of Common Shares outstanding immediately after the
Consolidation as such shareholder held immediately prior to the
Consolidation.
Registered shareholders that hold physical share certificates
will receive a letter of transmittal from Computershare Trust
Company of Canada, the transfer
agent for the Common Shares, describing the process by which such
shareholders may obtain new share certificates representing their
post-Consolidation Common Shares.
About ImmunoPrecise Antibodies Ltd.
ImmunoPrecise is a global technology platform company with
end-to-end solutions empowering companies to discover and develop
therapies against any disease. The Company's experience and
cutting-edge technologies enable unparalleled support of its
partners in their quest to bring innovative treatments to the
clinic. ImmunoPrecise's full-service capabilities dramatically
reduce the time required for, and the inherent risk associated
with, conventional multi-vendor product development. For further
information, visit www.immunoprecise.com or contact
solutions@immunoprecise.com.
Forward-Looking Information and Statements
This press release contains certain "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Such forward-looking information and forward-looking
statements are not representative of historical facts or
information or current condition but instead represent only the
Company's beliefs regarding future events, plans or objectives,
many of which, by their nature, are inherently uncertain and
outside of the Company's control. Generally, such forward-looking
information or forward-looking statements can be identified by the
use of forward-looking terminology such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or may contain statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "will
continue", "will occur" or "will be achieved". Forward-looking
information contained in this press release includes information
relating to intention of the Company to complete the Consolidation
as well as the terms of the Consolidation.
By identifying such information and statements in this manner,
the Company is alerting the reader that such information and
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
information and statements.
Any such forward-looking statements are based on assumptions and
analyses made by the Company in light of its experience and its
perception of historical trends, current conditions and expected
future developments. However, whether actual results and
developments will conform to the Company's expectations and
predictions is subject to any number of risks, assumptions and
uncertainties. Many factors could cause the Company's actual
results to differ materially from those expressed or implied by the
forward-looking statements contained in this news release. Such
factors include, among other things, those risks and uncertainties
described in the Company's annual information form dated
November 16, 2020 and its management
discussion and analysis for the three months ended July 31, 2020 which can be accessed at
www.sedar.com. The forward-looking information and forward looking
statements contained in this press release are made as of the date
of this press release, and the Company does not undertake to update
any forward-looking information and/or forward-looking statements
that are contained or referenced herein, except in accordance with
applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
SOURCE ImmunoPrecise Antibodies Ltd.