MONTREAL, Feb. 13, 2018 /CNW Telbec/ - BioAmber Inc.
(TSX: BIOA) announced today that the Toronto Stock Exchange (TSX)
has notified the Company that it is reviewing, on an expedited
basis, the Company's eligibility for continued listing.
This review results from the Company not being in a position to
obtain the approval of the TSX in connection with its registered
direct offering announced on February 9,
2018.
BioAmber was notified of the listing review on February 12, 2018. A meeting with the continued
listing committee of the TSX is scheduled to be held on
February 15, 2018 at which the
Company may make submissions. Since suspension of trading and
delisting of the Company's shares from the TSX is a possible
outcome, the Company may seek alternative Canadian marketplaces on
which to be listed, including the TSX Venture Exchange.
The TSX notification does not affect the Company's business
operations or its Securities and Exchange Commission ("SEC") or
applicable Canadian reporting requirements, and does not constitute
an event of default under any of the Company's debt
obligations.
About BioAmber
BioAmber (NYSE: BIOA; TSX: BIOA) is a
renewable materials company. Its innovative technology platform
combines biotechnology and catalysis to convert renewable feedstock
into building block materials that are used in a wide variety of
everyday products including plastics, paints, textiles, food
additives and personal care products. For more information
visit www.bio-amber.com.
Forward-Looking Statements
This press release
contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 that involve
significant risks and uncertainties about BioAmber, including but
not limited to statements with respect to BioAmber's plans to
consummate its proposed underwritten offering of common stock and
warrants. BioAmber may use words such as "anticipate," "believe,"
"could," "continue," "estimate," "expect," "intend," "may,"
"should," "will," "would," "plan," "projected" or the negative of
such words or other similar words or phrases to identify such
forward-looking statements. Among the important factors that could
cause actual results to differ materially from those indicated by
such forward-looking statements are risks relating to, among other
things, whether or not BioAmber will be able to generate sufficient
cash flows and obtain the additional financing necessary to
continue as a going concern and to grow its business, develop its
products and respond to competitive pressures, the impact of the
termination of BioAmber's joint venture with Mitsui & Co.
Ltd. on its ability to maintain and expand its operations at its
Sarnia, Ontario facility, market
and other conditions, the satisfaction of customary closing
conditions related to the underwritten offering of common stock and
warrants, our ability to maintain the listing of our common stock
on the NYSE, BioAmber's business and financial condition, and the
impact of general economic, industry or political conditions in
the United States or
internationally. For additional disclosure regarding these and
other risks faced by BioAmber, see disclosures contained in
BioAmber's public filings with the SEC, including the risks
discussed under the heading "Item 1.A Risk Factors" in the
company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2016 and Quarterly
Report on Form 10-Q for the quarter ended September 30, 2017, and under the heading "Risk
Factors" of the prospectus supplement for this offering. You should
consider these factors in evaluating the forward-looking statements
included in this press release and not place undue reliance on such
statements. The forward-looking statements are made as of the date
hereof, and BioAmber undertakes no obligation to update such
statements as a result of new information.
SOURCE BioAmber Inc.