Biomira Inc. announces filing of preliminary prospectus for rights offering.EDMONTON, ALBERTA--(BUSINESS WIRE)-- Biomira Inc. (Nasdaq: BIOMF) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ME: BRA) today announced that it is in the process of filing a preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders in Canada and a registration statement, including a preliminary prospectus, in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. for a rights offering of units to its common shareholders, each unit consisting of a common share and a warrant to purchase an additional common share. The rights offering is subject to satisfaction of certain conditions, including receipt of regulatory approvals and the filing of a final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. . Although the subscription ratio, pricing terms and record date were not announced, the Company expects the offering to raise between C$25 million and C$30 million, not including any proceeds from the exercise of the warrants. Almiria Capital Corp., formerly a principal shareholder of Biomira, has agreed to purchase a maximum of C$18 million of units not purchased pursuant to the rights offering. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the rights offering are anticipated to be used to fund ongoing development of the Company's products including the cost of clinical trials and expenses associated with regulatory approvals relating to the Company's products. The securities may not be sold nor may offers to buy be accepted in the United States prior to the time the registration statement becomes effective, and in Canada prior to receipts being obtained for the final prospectus from the appropriate regulatory authorities. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of any securities in any Province or State, in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such Province or State. Biomira is a biotechnology company developing an integrated line of products for the diagnosis and treatment of cancer. CONTACT: Jim Devaney, VP Finance and CFO See Chief Financial Officer. 403/490-2806 INDUSTRY KEYWORD: BIOTECHNOLOGY REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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