Québec City, March 4, 2013 – TSO3 Inc. (“TSO3” or the “Company”) (TSX: TOS) an innovator in sterilization technology for medical devices in healthcare settings, is pleased to announce today that it has successfully completed its previously announced public offering of 7,000,000 common shares (the “Common Shares”). The offering was completed 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., at a price of $1.00 per Common Share for aggregate gross proceeds to TSO3 of $7,000,000 (the “Offering”).
The Common Shares were offered through a short-form prospectus filed in all provinces of Canada. The Common Shares being issued in the offering have been approved for listing on the Toronto Stock Exchange. Following the issuance of the shares, there are 72,888,182 Common Shares of TSO3 issued and outstanding.
Net proceeds from the Offering will be used to accelerate new product development, strengthen the Company’s financial position enabling the Company to continue to actively pursues US regulatory clearance for the STERIZONE® 125L+ Sterilizer, and negotiate an appropriate channel partner agreement.
“We are pleased to consolidate our financial position, enabling the Company to continue to move forward on multiple fronts, creating additional value for our shareholders”, said R.M. (Ric) Rumble, CEO of TSO3. “The following months and quarters are expected to see significant progress. This infusion of capital allows us to fund each of our previously communicated projects.”
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 therefrom.
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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