BEND, OR , Oct. 16, 2019 /CNW/ - Stonepine Capital Management, LLC ("Stonepine") announced today that on September 23, 2019 and October 11, 2019 it acquired, on behalf of certain investment funds managed by it, 1,899,000 common shares (the "Shares") in the capital of Novelion Therapeutics Inc. ("Novelion") at a price of US$0.85 (C$1.13) per Share and 100,000 Shares at a price of US$0.649 (C$0.86) per Share, respectively, via the facilities of NASDAQ (collectively, the "Acquisitions").
Immediately prior to the Acquisitions, Stonepine, on behalf of certain investment funds managed by it, exercised control or direction over an aggregate of 1,804,420 Shares representing approximately 9.20% of 19,618,946 issued and outstanding Shares as reported by Novelion in its Proxy Statement (Schedule 14A) dated October 3, 2019 (the "Outstanding Shares"). After giving effect to the Acquisitions, Stonepine, on behalf of certain investment funds managed by it, exercised control or direction over an aggregate of 3,803,420 Shares representing approximately 19.39% of the Outstanding Shares.
The Shares were acquired for investment purposes only and not for the purpose of exercising control or direction over Novelion. Subject to applicable securities laws and depending on market conditions and other factors, Stonepine, on behalf of certain investment funds managed by it, may in the future increase or decrease its ownership, control or direction over the Shares, through market transactions, private agreements or otherwise.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.
SOURCE Stonepine Capital Management, LLC
View original content: http://www.newswire.ca/en/releases/archive/October2019/16/c0764.html