/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ Ticker Symbol: CUR
QUEBEC CITY, June 25 /CNW Telbec/ - DiagnoCure Inc. (TSX: CUR) ("Diagnocure" or the "Company"), a life sciences company commercializing high-value cancer diagnostic tests and delivering laboratory services, announced today that it has filed a preliminary short form prospectus with the securities authorities in ail provinces of Canada with respect to a proposed offering of its common shares.
The offering is being made on a best efforts basis through a syndicate of agents co-led by National Bank Financial Inc. and Bloom Burton & Co. and including Desjardins Securities Inc.
The Company has filed a request for an advance income tax ruling from the Ministere du Revenu du Quebec to confirm that the Company qualifies as a qualified issuing corporation and that the common shares to be distributed under this offering will qualify as qualifying shares, upon issuance, for inclusion in a Quebec Stock Savings Plan II (formerly known as SME Growth Stock Plan) in accordance with the Taxation Act (Quebec).
The Company intends to use the net proceeds of this offering primarily to advance its research and development initiatives, including key clinical studies to further demonstrate the clinical value of its Previstage(TM) GCC Colorectal Cancer test and support its commercialization. The Company intends also to allocate a portion of the proceeds of the offering for the development of its GCC Blood test for monitoring colorectal cancer and to pursue further studies and research and development activities on the Shc protein-based tests.
Copies of the preliminary short form prospectus relating to this offering of common shares may be obtained from the agents or through the SEDAR internet site (www.sedar.com).
The securities offered have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. State securities laws and may not be offered or sold, directly or indirectly, within the United States or its territories or possessions or to or for the account of any U.S. person (as defined in Regulation S under the U.S. Securities Act) other than pursuant to an available exemption from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy any such securities within the United States, or its territories or possessions, or to or for the account of any U.S. person.
This offering is expected to close on or around July 15, 2009 and is subject to usual conditions.
DiagnoCure (TSX: CUR) is a life sciences company commercializing high-value cancer diagnostic tests and delivering laboratory services that increase clinician and patient confidence in making critical treatment decisions. DiagnoCure Oncology Laboratories, a subsidiary of DiagnoCure Inc, launched in 2008 the Previstage(TM) GCC Colorectal Cancer Staging Test, the first GCC-based molecular test for the management of colorectal cancer. A major study published in the February 18, 2009, edition of the Journal of the American Medical Association demonstrated that GCC, to which DiagnoCure owns exclusive worldwide diagnostic rights, is the strongest independent predictor of colorectal cancer recurrence. The Company also has a strategic alliance with Gen-Probe (NASDAQ: GPRO) for the development and commercialization of a second-generation prostate cancer test using PCA3, DiagnoCure's proprietary molecular marker. This test is also available through laboratories in the U.S. using PCA3 analyte specific reagents (ASR) from Gen-Probe, in Europe as the CE-marked PROGENSA(TM) PCA3 in vitro assay, and in Canada. For more information, visit www.diagnocure.com.
This release contains forward-looking statements that involve known and unknown risks, uncertainties and assumptions that may cause actual results to differ materially from those expected. By their very nature, forward-looking statements are based on expectations and hypotheses and also involve risks and uncertainties, known and unknown, many of which are beyond DiagnoCure's control. As a result, investors are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements regarding the outcome of research and development projects, clinical studies and future revenues are based on management expectations. In addition, the reader is referred to the applicable general risks and uncertainties described in DiagnoCure's most recent Annual Information Form under the heading "Risk Factors". DiagnoCure undertakes no obligation to publicly update or revise any forward-looking statements contained herein unless required by the applicable securities laws and regulations.