Vancouver, British Columbia–(Newsfile Corp. – January 18, 2024) – Genix Pharmaceuticals Corporation (TSXV: GENX) (OTCQB: GENPF) (“GENIX” or the “Company”) announces that the Company has made an application to the TSX Venture Exchange (the “Exchange”) to amend the exercise price, the warrant accelerator terms and extend the expiry date of 3,354,945 previously issued and outstanding warrants (the “Warrants”).
The Corporation is proposing to reduce the exercise price of the warrants from $0.30 per warrant share to $0.15 per warrant share. In addition, the Warrants will be subject to an accelerator repricing from $0.50 per share to a new accelerator price of $0.25 per share.
Proposed Warrant Extension Terms
The amendments of the Warrants are subject to the prior consent of all Warrant holders and the approval of TSX Venture Exchange (the “Exchange”) (“Warrant Amendment Approval”).
About Genix
Genix Pharmaceuticals Corporation is a novel and generic ophthalmic drugs company. The Company is focused on the research, development, manufacture, licensing and sales of novel and innovative healthcare products. In particular, these products include evidence-based, proprietary over-the-counter (“OTC”) nutraceuticals, and other single molecule generic drugs that have been shown to deliver consistent and verifiable results in various therapeutic areas.
The Company will market and sell its portfolio of novel and generic ophthalmic drugs in Canada and globally and its nutraceutical products in North America and other select countries. Genix continues to conduct its scientific R&D of new, innovative products to support the health needs of mainstream consumers.
On Behalf of the Board of Directors,
Mr. Mahmoud Aziz, President, Director
Genix Pharmaceuticals Corporation
www.genixpharm.com
For more information regarding Genix Pharmaceuticals Corporation, please contact:
Kevin Bottomley, Director
Tel: +1.604.609.6199
kbottomley@genixpharm.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward‐looking statements”. Forward‐looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194817
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