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Client Work

Ondine Biopharma closes common share offering for US$10 million

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Canaccord Capital

On November 9, 2006, Ondine Biopharma Corporation announced that it had closed the short form prospectus offering of 6,250,000 common shares of the company at a price of $1.60 per Common Share for aggregate gross proceeds of $10 million. A syndicate led by Canaccord Capital Corporation and including Desjardins Securities Inc. and Pacific International Securities Inc. acted as underwriters in connection with the offering. Ondine Biopharma has granted the underwriters an over-allotment option, exercisable at any time until December 9, 2006, to purchase up to an additional 937,500 Common Shares at a price of $1.60 per Common Share. Fasken Martineau advised the underwriters in this transaction with a team comprised of Iain Mant, Benjamin Lee and Deepak Gill (securities) and Doran Ingalls (IP).


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