On October 21, 2018 IntelGenx Technologies Corp. (TSXV: IGX) (OTCQX: IGXT) (the "Company" or "IntelGenx") is pleased to announce that it has closed its offering (the "Offering") of 17,144,314 units (the "Units") at a price of US$0.70 (the "Offering Price") for gross proceeds of approximately US$12 million in the United States and the Canadian provinces of Alberta, British Columbia, Manitoba, Ontario and Quebec (Press release, IntelGenx, OCT 22, 2018, View Source [SID1234530112]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Each Unit consists of one share of common stock (the "Offered Shares") and one half of one warrant (a "Warrant"), each whole Warrant entitling the holder to purchase one share of common stock of the Company at an exercise price of US$1.00 per share. The Warrants are exercisable immediately and will expire on the third anniversary of the date of their issuance.

The Units were distributed under a final prospectus supplement to the U.S. registration statement on Form S-3 (File No. 333-227498) which was declared effective on October 15, 2018 (the "Registration Statement") and a final Canadian MJDS prospectus supplement to the Canadian MJDS short-form base shelf dated October 18, 2018 filed by the Company in connection with the Offering. Copies of the U.S. prospectus supplement and the Registration Statement can be obtained from the SEC’s website at www.sec.gov.

Copies of the final prospectus supplement and the Registration Statement may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (646) 975-6996 or by emailing [email protected].

The Offering was conducted, on a best efforts basis, by H.C. Wainwright & Co. ("Wainwright"), in its capacity as the exclusive placement agent for the Units offered in the United States, and Echelon Wealth Partners Inc., in its capacity as the exclusive placement agent for the Units offered in Canada ("Echelon" and collectively with Wainwright, the "Agents").

The Company has granted Echelon an over-allotment option exercisable, in whole or in part, at the sole discretion of Echelon, at any time prior to 5:00 p.m. (Montreal time) on the date that is the 30th day after the closing of the date hereof, to purchase shares of common stock of the Company and/or Warrants in an amount representing up to an additional 15% of the number of Units sold pursuant to the Offering, at the Offering Price to cover over-allocations, if any, and for market stabilization purposes.

The TSX Venture Exchange (the "TSXV") has conditionally approved the listing of the common stock that will be issued by the Company in the Offering, including the shares of common stock issuable upon the exercise of the Warrants. Listing on the TSXV will be subject to the Company fulfilling all of the listing requirements of the TSXV within 30 days of the closing of the Offering.

After the payment of the Agents’ commissions and the reimbursement of certain of the Agents’ Offering expenses and the payment of other Offering expenses, the Company expects the net proceeds from the Offering to be approximately US$10.5 million. The Company intends to use the net proceeds from the Offering for its 2a Montelukast Study, its Tadalafil 505(b)(2) submission to the U.S. Food and Drug Administration, and working capital.