LONDON, ONTARIO -- (Marketwired) -- 04/05/13 -- Sernova Corp. (TSX VENTURE: SVA) announced further to the completion of the non-brokered private placement on February 19, 2013, consisting of 10,000,000 units at a price of $0.20 per unit for gross proceeds of $2,000,000, the Company has issued an additional 285,931 finder's warrants entitling the warrant holder to purchase one common share of the Company at a price of $0.20 for a period of 24 months from the date of issuance. The finder's warrants replace 285,931 stock options held by the finder which were cancelled.
Sernova Corp. is a clinical stage health-sciences company focused on commercializing medical technologies. Sernova is developing a platform technology based on the Cell Pouch, Sertolin and therapeutic cells, for a number of chronic diseases, including insulin-dependent diabetes as a first indication and other cell therapies such as for parathyroid disease, haemophilia, and Parkinson's disease. Sernova's goals for the Cell Pouch for diabetes include increasing the number of patients currently treated with intraportal delivery of donor islets and to provide a safe environment for sources of unlimited insulin-secreting cells such as insulin-producing stem cells and xenogeneic cells. This vision combined with local anti-rejection protection of the cells could enable millions of patients with insulin-dependent diabetes to be treated without limitation to availability of cells.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including availability of funds, the results of financing efforts, the results of research and product development activities -- that could cause actual results to differ materially from Sernova's expectations are disclosed in Sernova's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Philip Toleikis, Ph.D.
President and CEO
Russo Partners, LLC
Tony Russo, Ph.D.
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