EDMONTON, Alberta, Feb. 23, 2024 (GLOBE NEWSWIRE) -- Ceapro Inc. (TSX-V: CZO; OTCQX: CRPOF) (“Ceapro” or the “Company”), today provided an update on its progress across its current business.
On December 14, 2023, the Company announced it entered into a definitive agreement to combine operations with Aeterna Zentaris Inc. (“Aeterna Zentaris”), a TSX and Nasdaq listed specialty biopharmaceutical company, in an all-stock merger of equals transaction to be effected by way of a plan of arrangement under the Canada Business Corporations Act (the “Arrangement”). The Arrangement is subject to various conditions, including the approval of the Company’s shareholders and optionholders (collectively, the “Securityholders”) at the special meeting of Securityholders scheduled for March 12, 2024 (the “Meeting”). In addition to the proposed Arrangement, the Company continues to execute on progress across its ongoing development projects, as detailed below.
“We continue to make promising progress across all areas of our business. Given the recent developments, we anticipate that all key success factors will align to expand our business model. Through the planned merger with Aeterna Zentaris, we aim to become a combined company with high potential for value creation in the biopharmaceutical industry. We look forward to an exciting future ahead for the Company and generating value in the short and long term for all stakeholders,” stated Gilles Gagnon, M.Sc., MBA, President and CEO.
Pipeline Development
Ceapro’s focus is on avenanthramides, beta glucan from oat and yeast and new chemical complexes/delivery systems.
New Product Development
Technology
Cosmeceutical Base Business
To stay up to date with the Company’s progress, visit Ceapro’s website at www.ceapro.com and connect on Facebook, X, and LinkedIn.
About Ceapro Inc.
Ceapro Inc. is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and “active ingredients” from oats and other renewable plant resources. Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical, and therapeutics products for humans and animals. The Company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug-delivery solutions. For more information on Ceapro, please visit the Company’s website at www.ceapro.com.
Forward-looking information
The information in this news release has been prepared as at February 22, 2024. Certain statements made herein, including statements relating to matters that are not historical facts and statements of the Company’s beliefs, intentions and expectations about developments, results and events which will or may occur in the future, constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information relates to future events or future performance, reflect current expectations or beliefs regarding future events and is typically identified by words such as “aim”, “anticipate”, “assume”, “believe”, “continue”, “could”, “expect”, “forecast”, “future”, “intend”, “maintain”, “may”, “outlook”, “plan”, “potential”, “project”, “synergies”, “will”, and similar expressions suggesting future outcomes or statements regarding an outlook. Forward-looking information includes, but is not limited to, statements with respect to the Arrangement, including the expected timing and outcome of the Meeting, closing and various other steps to be completed in connection with the Arrangement, and other statements that are not historical facts, including the Company’s ability to obtain regulatory approvals, including those from health authorities, and to develop, introduce, and implement new products as well as enhancements for existing products that meet customer needs and product requirements in a timely manner.
Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company or the combined company to be materially different from future results, performance or achievements expressed or implied by such information. There can be no assurance that such information will prove to be accurate. Such information is based on numerous assumptions, including assumptions regarding the ability to complete the Arrangement on the contemplated terms or at all; that the conditions precedent to closing of the Arrangement can be satisfied, including the timely receipt of all necessary court, regulatory, third-party and Securityholder approvals; present and future business strategies; operations performance within expected ranges; market and industry expectations; successful and timely product launches; and the ability to protect the Company’s intellectual property.
Readers are cautioned not to place undue reliance on forward-looking information, which speak only as of the date made. For a more detailed discussion of such risks and other factors that may affect Ceapro’s ability to achieve the expectations set forth in the forward-looking information contained in this news release, see Ceapro’s management information circular dated February 9, 2024, MD&A filed under Ceapro’s profile on SEDAR+ at www.sedarplus.ca, as well as Ceapro’s other filings with the Canadian securities regulators. Other than as required by law, the Company does not intend, and does not assume any obligation to, update the forward-looking information in this news release.
For more information contact:
Jenene Thomas
JTC Team, LLC
Investor Relations and Corporate Communications Advisor
T (US): +1 (833) 475-8247
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
Issuer:
Gilles R. Gagnon, M.Sc., MBA
President & CEO
T: 780-421-4555
Neither the 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
Last Trade: | C$0.26 |
Daily Change: | 0.02 8.33 |
Daily Volume: | 72,000 |
Market Cap: | C$20.360M |
December 13, 2023 November 29, 2023 November 27, 2023 August 29, 2023 |
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