Hemosol Announces Proposed Private Placement Financing
September 22 2005 - 11:37AM
PR Newswire (US)
TORONTO, Sept. 22 /PRNewswire-FirstCall/ -- Hemosol Corp.
(NASDAQ:HMSLNASDAQ: TSX:NASDAQ:HML) today announced that it has
entered into an agreement with an agent under which a syndicate
will market, on a "best efforts" basis, a private placement of
units (the "Offering") consisting of one common share and one
common share purchase warrant. The syndicate has a mandate to raise
up to $10 million with an agents' option to raise up to an
additional $5 million for a total of up to approximately $15
million. Hemosol cannot provide assurance that it will complete a
private placement. This private placement is necessary as the
Company will require additional capital early in the fourth quarter
of this year to continue as a going concern. This press release
does not constitute an offer or invitation to subscribe for or
purchase any securities in the United States. The securities
offered have not been and will not be registered under the United
States Securities Act of 1933, as amended and may not be offered or
sold in the United States absent registration or an applicable
exemption from registration requirements. About Hemosol Hemosol is
an integrated biopharmaceutical developer and manufacturer of
biologics, particularly blood-related protein based therapeutics.
The Company is deploying a novel technology, Plasma Protein
Chromatography (PPC), which has the potential to change the
business dynamics of the therapeutic plasma proteins sector.
Hemosol also continues to develop its rich and diverse therapeutic
pipeline that includes three technology platforms - Oxygen
Therapeutics for the treatment of high volume blood loss; Drug
Delivery for the treatment of Hepatitis C and liver cancer; and
Cell Therapeutics for the treatment of chronic myelogenous leukemia
and chemotherapy-induced anemia. For more information visit
Hemosol's website at http://www.hemosol.com/. The Common Shares are
listed on the NASDAQ Stock Market under the trading symbol "HMSL"
and on the TSX under the trading symbol "HML". Certain statements
concerning Hemosol's future prospects are "forward- looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and other applicable
securities legislation. There can be no assurances that future
results will be achieved, and actual results could differ
materially from forecasts and estimates. Important factors that
could cause actual results to differ materially from forecasts and
estimates include, but are not limited to: Hemosol's ability to
successfully implement the Cascade technology and commercialize
products derived from that technology; Hemosol's ability to obtain
additional financing which is critical to the implementation of the
Cascade technology and to Hemosol's continued viability as a going
concern; Hemosol's ability to obtain regulatory approvals for its
products; Hemosol's ability to successfully complete clinical
trials for its products; Hemosol's ability to enter into
satisfactory arrangements for the supply of materials used in its
manufacturing operations and the sale of resulting products to
customers; technical, manufacturing or distribution issues; the
competitive environment for Hemosol's products and services; the
degree of market penetration of Hemosol's products; Hemosol's
ability to attract and retain clients for its bio-manufacturing
services; the risk that Hemosol may not become profitable; and
other factors set forth in filings with Canadian securities
regulatory authorities and the U.S. Securities and Exchange
Commission. These risks and uncertainties, as well as others, are
discussed in greater detail in the filings of Hemosol with Canadian
securities regulatory authorities and the U.S. Securities and
Exchange Commission. Hemosol makes no commitment to revise or
update any forward-looking statements in order to reflect events or
circumstances after the date any such statement is made.
DATASOURCE: Hemosol Corp. CONTACT: Jason Hogan, Investor &
Media Relations, (416) 361-1331, (800) 789-3419, (416) 815-0080
fax, ; http://www.hemosol.com/; Archived images on this
organization are searchable through CNW Photo Archive website at
http://photos.newswire.ca/. Images are free to accredited members
of the media. To request a free copy of this organization's annual
report, please go to http://www.newswire.ca/ and click on
reports@cnw.
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