Trimel Pharmaceuticals Corp (TSX: TRL), a Mississauga, Ont.-based specialty pharmaceutical company that develops medications for male hypogonadism, female sexual dysfunction, and various respiratory disorders, has completed a private placement. The investment, which generated gross proceeds of more than $10.5 million, was provided by First Generation Capital and West Face Capital. The funds will allow Trimel to focus on key operational objectives and milestones. Toronto-based private investment firm West Face Capital last month initially closed its West Face Alternative Credit Fund Group at around $400 million in commitments.
Trimel Announces Closing of $10.5 Million Private Placement of Common Shares
TORONTO, ONTARIO–(Marketwired – Feb 21, 2014) – Trimel Pharmaceuticals Corporation (TSX:TRL) announced today that the previously disclosed private placement of 14,829,676 common shares (“Common Shares”), in aggregate, to First Generation Capital Inc. and West Face Long Term Opportunities Global Master L.P. for total gross proceeds of $10,543,000 has been completed.
“We would like to thank each of the subscribers for their continuing support,” stated Tom Rossi, President and Chief Executive Officer. “These funds will allow management to focus their efforts on achieving the key operational objectives and milestones of the company over the coming months.”
Trimel is a specialty pharmaceutical company actively developing medications for male hypogonadism, female sexual dysfunction and various respiratory disorders. An NDA for CompleoTRT™, a product utilizing Trimel’s licensed bioadhesive intranasal gel technology, has been accepted for review by the FDA for regulatory approval in the United States. For more information, please visit www.trimelpharmaceuticals.com.
Trimel Pharmaceuticals Corporation
Kenneth G. Howling
Chief Financial Officer
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