On August 5 2021 IntelGenx Technologies Corp. (TSXV: IGX) (OTCQB: IGXT) (the "Company" or "IntelGenx") reported the closing of an offering by way of private placement (the "Offering") to certain investors in the United States of 8% convertible notes due July 31, 2025 (the "Notes") for aggregate gross proceeds of approximately U.S.$2.1 million (Press release, IntelGenx, AUG 5, 2021, View Source [SID1234586046]). The Notes will bear interest at a rate of 8% per annum, payable quarterly, and will be convertible into shares of common stock of the Company (the "Shares") beginning 6 months after their issuance at a price of U.S.$0.40 per Share.

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Cantone Research, Inc. ("Cantone") acted as placement agent in respect of the Offering.

The Company intends to use the proceeds of the Offering to finance its Montelukast study.

In connection with the Offering, the Company paid Cantone a cash commission of approximately U.S.$199,525 in the aggregate and issued non-transferable warrants to the agent (the "Agent’s Warrants"), entitling Cantone to purchase 613,000 Shares at a price of U.S.$0.40 per Share until August 4, 2023. The TSX Venture Exchange (the "TSXV") has conditionally approved the listing of the Shares issuable upon conversion of the Notes, as well as the Shares issuable upon exercise of the Agent’s Warrants. Listing on the TSXV will be subject to the Company fulfilling all of the listing requirements of the TSXV.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in any jurisdiction where not permitted by law. Any securities described in this announcement have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of a "U.S. person" as defined in Regulation S under the U.S. Securities Act, except in transactions exempt from, or not subject to, registration under the U.S. Securities Act and applicable state securities laws.