BELGRADE, Mont.–(BUSINESS WIRE)–Lattice Biologics Ltd. (TSX-V:
LBLTF) (“Lattice Biologics” or the “Company”) is
pleased to announce that it has completed the debt-to-equity conversion
announced on March
20, 2017 (the “Transaction”).
Pursuant to the Transaction, the Company has issued 491,363 common
shares (“Shares”) and 491,363 warrants to a service provider as
consideration for the elimination of Can$93,359.00 of debt. The debt was
converted to equity at a conversion price of Can$0.19.
Lattice also announces that it has obtained TSX Venture Exchange (“TSXV”)
approval to issue 98,885 Shares of the Company to an individual as
compensation for certain services rendered to the Company during May of
The Shares will be issued pursuant to the terms of the Shares for
Services Agreement (announced August
8, 2016) at a deemed price of Can$0.12. The number of Shares was
determined by using the volume weighted average price of the Company’s
common shares on the TSXV for the five business days prior to submission
to the TSXV for approval of the issuance.
The Shares will be subject to a four-month resale restriction.
About Lattice Biologics Ltd.:
Lattice Biologics Ltd. is an emerging precision medicine leader in the
field of cellular therapies and tissue engineering, with an emphasis on
bone, skin, and cartilage regeneration. As a manufacturer of the highest
quality allografts, Lattice is focused on next generation products to
improve surgical outcomes.
Lattice Biologics operates headquarters, laboratory and manufacturing
facilities in Belgrade, Montana, as well as offices in Toronto, Ontario.
The Company maintains all necessary licensures to process and sell its
tissue engineered products within the U.S. and internationally. This
includes Certificates to Foreign Governments from the U.S. Food and Drug
Administration (FDA) and registrations for 29 countries, which allow the
export of bone, tendon, meniscus, ligament, soft tissue, and cartilage
products outside of the U.S.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.