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EX-99.1 - EXHIBIT 99.1 - FENNEC PHARMACEUTICALS INC.v440115_ex99-1.htm

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

Form 8-K



Current Report

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 16, 2016

 

Fennec Pharmaceuticals Inc.

 

(Exact name of registrant as specified in its charter)

 

001-32295
(Commission File Number)

     
British Columbia   20-0442384
(State or other jurisdiction of
incorporation)
  (I.R.S. Employer Identification No.)

 

 

PO Box 13628, 68 TW Alexander Drive,
Research Triangle Park, NC
 

 

27709

(Address of principal executive offices)   (Zip Code)

 

 

Registrant’s telephone number, including area code: (919) 636-4530

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)    
 
¨   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))    
 
¨   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))    

 

 

 

 

Item 1.01Entry into a Material Definitive Agreement

 

On April 8, 2016, Fennec Pharmaceuticals Inc. (the “Company” or “Fennec”), entered into subscription agreements in connection with a non-brokered private placement (the “Offering”) of 2,631,579 units for gross proceeds of US$5,000,000. Each unit (a “Unit”) was issued at a price of US$1.90 per Unit and consists of one common share of the Company (the “Common Shares”). The Offering was conducted in reliance on Regulation D and Regulation S under the Securities Act of 1933, as amended (the “Act”).

 

The Second Closing Date occurred on May 16, 2016 with respect of the remaining 1,538,751 Common Shares. The current number of outstanding Shares, after giving effect to the Offering is 13,638,567.

 

For Canadian securities law purposes, the securities issued in the Offering will be subject to a hold period, which will expire four months from their date of issuance. For United States securities law purposes, the securities sold in the Offering have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. It is anticipated that the Company will use the proceeds of the Offering for general working capital purposes.

 

Item 3.02Unregistered Sales of Equity Securities

 

See item 1.01 above.

 

Item 9.01 Financial Statements and Exhibits.

 

 

Exhibit No.   Description
     
Exhibit 99.1   Press Release dated May 16, 2016

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

Dated: May 16, 2016 Fennec Pharmaceuticals Inc.  
       
  By: /s/ Rostislav Raykov  
    Chief Executive Officer  

 

 

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