Québec City, February 25, 2013 – TSO3 Inc. (“TSO3” or the “Company”) (TSX: TOS)an innovator in sterilization technology for medical devices in healthcare
settings, is pleased to announce that it has filed a final short form
prospectus with the securities regulatory authorities in all provinces of
Canada with respect to a previously announced public offering of 7,000,000 common
shares (the “Common Shares”) at the price of CDN $1.00 per Common Share (the
“Issue Price”) for aggregate gross proceeds to TSO3 of CDN $7,000,000
The offering is being made on a bought deal basis through
a syndicate of underwriters co-led by Desjardins Securities Inc. and Canaccord
Genuity Corp. and including Byron Capital Markets Ltd. and Laurentian Bank
Securities Inc. (collectively, the “Underwriters”). The Offering is expected to
close on or about March 4, 2013 and is subject to customary conditions and regulatory
The Company has granted the Underwriters an over-allotment option,
exercisable for a period of 30 days following the closing of the Offering, to
purchase up to an additional 15% of the number of common shares issued from treasury
pursuant to the Offering, at the Issue Price.
As the Company actively pursues US regulatory clearance for the
STERIZONE® 125L+ Sterilizer, net proceeds from the Offering will be used to
strengthen the Company’s financial position in negotiating a channel partner
agreement. The proceeds will also allow for continued new product development.
The Toronto Stock Exchange (the “TSX”) has conditionally approved the
listing of the Common Shares, subject to TSO3 fulfilling all of the
listing requirements of the TSX on or before May 16, 2013.
This news release is not an offer of securities for sale in the United States
and is not an offer to sell or solicitation of an offer to buy any securities
of the Company, nor shall it form the basis of, or be relied upon in connection
with any contract for purchase or subscription. Securities may not be offered
or sold in the United States absent registration under the U.S. Securities Act of 1933 (the “Securities Act”) or an exemption
from registration thereunder. These securities have not been and will not be
registered under the Securities Act or the securities laws of any state and may
not be offered or sold in the United States absent registration under the Securities
Act and applicable state securities laws or pursuant to an applicable exemption
TSO3, founded in Québec City in 1998, specializes in the research and development of innovative, high-performance medical instrument sterilization technology with high commercial potential. TSO3 designs products for sterile processing areas in the hospital environment and offers an advantageous replacement solutions to other low temperature sterilization processes currently used in hospitals.
For more information about TSO3, visit the Company’s Web site at www.tso3.com
The statements in this release and oral statements made by representatives of TSO3 relating to matters that are not historical facts (including, without limitation, those regarding the timing or outcome of any financing undertaken by TSO3) are forward-looking statements that involve certain risks, uncertainties and hypotheses, including, but not limited to, general business and economic conditions, the condition of the financial markets, the ability of TSO3 to obtain financing on favourable terms and other risks and uncertainties.
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