11:21:26 EDT Fri 30 Sep 2022
Enter Symbol
or Name

IntelGenx Technologies Corp
Symbol IGX
Shares Issued 63,615,256
Close 2017-07-11 C$ 1.22
Recent Sedar Documents

IntelGenx prospectus offering of debentures

2017-07-11 18:15 ET - Prospectus Approved

Effective July 10, 2017, the company's short form prospectus dated June 28, 2017, was filed with and accepted by the TSX Venture Exchange, and effective June 29, 2017, was receipted by the British Columbia, Alberta, Manitoba, Quebec and Ontario securities commissions, pursuant to the provisions of the respective securities acts.

The TSX Venture Exchange has been advised that closing is scheduled to occur on July 12, 2017, for gross proceeds of $6,838,000 (no overallotment option exercised to date).

Agents:  Desjardins Securities Inc., lead agent, together with Laurentian Bank Securities Inc. and Echelon Wealth Partners Inc.

Offering:  6,838 convertible debentures

Offering price:  $1,000 per debenture

Agents' fee:  The agents shall receive a 6-per-cent cash commission of gross proceeds raised under the offering.

For further information, refer to the company's short form prospectus dated June 28, 2017, filed on SEDAR.

The exchange has accepted listing of a total of $6,838,000 principal amount of 8 per cent unsecured convertible debentures maturing on June 30, 2022, of the company, which was issued via short form prospectus. The debentures will be listed and admitted to trading on the TSX Venture Exchange under the trading information set out below.

Commencement date:  At the opening on Wednesday, July 12, 2017, the debentures will commence trading on the TSX Venture Exchange.

Corporate jurisdiction:  Delaware

Capitalization:  6,838 debentures of $6,838,000 face value shall be issued and outstanding

Transfer agent:  TSX Trust Company

Trading symbol:  IGX.DB

Cusip No.:  45822RAA9

The closing of the prospectus offering of debentures is expected to occur prior to the opening of business on Wednesday, July 12, 2017. The debentures will be posted for trading at the opening of business on Wednesday, July 12, 2017, upon confirmation of closing of the offering.

The debentures will not trade or be quoted on an accrued interest basis (they will trade and be quoted on an interest flat basis). All bids, offers and trades in the debentures must reflect both the capital portion of the debentures and all accrued interest. The TSX Venture Exchange will not report accrued interest in regard to any trade in the debentures made through the facilities of the exchange. The debentures, which were issued in the minimum principal amount of $1,000 each, will be quoted based on $1,000 principal amounts with all trades being made in multiples of $1,000 principal amounts (excluding any amount for interest). For example, an order to buy $5,000 principal amount will be given as an order to buy 5,000. An order to sell $20,000 principal amount will be shown as an order to sell 20,000. An order for 1,500, for example, is not acceptable since all trades must be made in multiples of $1,000. The minimum trading unit of debentures is $1,000 principal amount and a board lot of debentures is $1,000 principal amount.

Details of the debentures

Maturity:  June 30, 2020

Interest:  The debentures will bear interest from the date of issue at a rate of 8 per cent per annum. Interest will be payable semi-annually on the last day of June and December of each year until the maturity date, commencing on Dec. 31, 2017. The first interest payment in the amount of $37.70 per $1,000 of principal shall include interest accrued from the closing of the offering to, but excluding, Dec. 31, 2017.

Redemption:  The debentures are not redeemable by the company prior to June 30, 2018. On and after the first call date but prior to June 30, 2019, the debentures will be redeemable at the option of the company, in whole or in part, from time to time, on not more than 60 days and not less than 30 days prior notice, provided that the current market price on the date on which notice of redemption is given is not less than 125 per cent of the conversion price. On or after June 30, 2019, and prior to the maturity date, the debentures will be redeemable, in whole or in part, at a price equal to the principal amount thereof, plus accrued and unpaid interest, at the company's option on not more than 60 days and not less than 30 days prior notice.

Conversion:  The debentures are convertible into common shares of the company at $1.35 per share at any time prior to maturity or the business day prior to redemption.

Subordination:  The debentures shall be subordinated in right of payment to the prior payment in full of all senior indebtedness of the company, including indebtedness under the company's present and future bank credit facilities, and any other secured creditors. Subject to statutory or preferred exceptions, or as may be specified by the terms of any particular securities, each debenture issued under the indenture will rank pari passu with each other debenture, and with all other present and future subordinated and unsecured indebtedness of the corporation, except for sinking fund provisions (if any) applicable to different series of debentures or similar obligations of the company.

Clearing and settlement:  The debentures will clear and settle through CDS.

Board lot:  The debentures will trade in a board lot size of $1,000 face value.

The debentures will be issued under an indenture dated as of July 12, 2017, between the company and TSX Trust Company.

For further information, refer to the company's short form prospectus dated June 28, 2017, filed on SEDAR.

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