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Acasti Pharma Reports on Its Oversubscribed Rights Offering Laval, Québec, CANADA – September 16, 2011 – Acasti Pharma Inc. (“Acasti”) (TSX-V.APO), a Neptune Technologies & Bioressources Inc. (“Neptune”) subsidiary, reports on its Rights Offering announced on June 17, 2011, which ended on September 14, 2011 at 4PM eastern time.
The Rights Offering has been oversubscribed, and accordingly the maximum number of shares available for issuance under terms of the Rights Offering have been issued, for a total of 6,445,444 shares representing gross proceeds of $8,056,805.
“We appreciate the Rights Offering subscribers’ confidence and support. Completing an oversubscribed Rights Offering during this uncertain macroeconomic period with high market volatily is a significant endorsement Acasti’s management, its business strategy and action plan” stated Xavier Harland, CFO. “The proceeds from the Rights Offering will be used to accelerate the development of CaPreTM, Acasti’s prescription drug candidate, directed primarily toward the US clinical development plan, as well as for the commercialization of OnemiaTM, Acasti’s medical food product and for the development of new Over-the-counter (OTC) combination products. Finally, remaining proceeds will be used for business development purposes and increasing working capital.” he added.
About Acasti Pharma Inc. Acasti Pharma is developing a product portfolio of proprietary novel
long-chain omega-3 phospholipids. Phospholipids are the major component
of cell membranes and are essential for all vital cell processes. They
are one of the principal constituents of High Density Lipoprotein (good
cholesterol) and, as such, play an important role in modulating
cholesterol efflux. Acasti Pharma’s proprietary novel phospholipids
carry and functionalize the polyunsaturated omega-3 fatty acids EPA and
DHA, which have been shown to have substantial health benefits and which
are stabilized by potent antioxidants. Acasti Pharma is focusing
initially on treatments for chronic cardiovascular conditions within the
over-the-counter, medical food and prescription drug markets.
About Neptune Technologies & Bioressources Inc. (NASDAQ:NEPT – TSX-V:NTB) Neptune is an industry-recognized leader in the innovation, production and formulation of science-based and clinically proven novel phospholipid products for the nutraceutical and pharmaceutical markets. The Company focuses on growing consumer health markets including cardiovascular, inflammatory and neurological diseases driven by consumers taking a more proactive approach to managing health and preventing disease. The Company sponsors clinical trials aimed to demonstrate its product health benefits and to obtain regulatory approval for label health claims. Neptune is continuously expanding its intellectual property portfolio as well as clinical studies and regulatory approvals. Neptune’s products are marketed and distributed in over 20 countries worldwide.
"Neither Nasdaq nor 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."
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