Business
Spectral Announces ISS and Glass Lewis Recommendations to Vote in Favour of its up to $18.2 Million Offering
TORONTO , July 8, 2014 /CNW/ - Spectral Diagnostics Inc. (TSX: SDI) (OTC QX: DIAGF) (t...
About this update from Spectral Medical Inc
[{"type":"text","content":"\n\n\nTORONTO, July 8, 2014 /CNW/ - Spectral Diagnostics Inc. (TSX: SDI) (OTC QX: DIAGF) (the \"Corporation\" or \"Spectral\") today announced that both ISS Proxy Advisory Services and Glass Lewis\n & Co. have endorsed the previously announced non-brokered private\n placement of the Corporation of up to $18.2 million (the \"Proposed Offering\") and recommend that shareholders of Spectral (\"Shareholders\") vote \"FOR\" the Proposed Offering at the upcoming special meeting of\n Shareholders to be held on July 22, 2014.\n\n\nThe Corporation intends to use the net proceeds of the Proposed Offering\n to fund its EUPHRATES clinical development program for PMX, its lead\n theranostics product for the treatment of septic shock, and for working\n capital and general corporate purposes.\n\n\nThe Board unanimously recommends that Shareholders vote FOR the Proposed\n Offering.  Shareholders are encouraged to read the management information\n circular of the Corporation (the \"Circular\") dated June 20, 2014 relating to the Proposed Offering and vote their\n shares before the proxy deposit deadline of 10 am (Toronto time) on\n July 18, 2014.  The Circular was previously mailed to Shareholders and\n is also available on the Corporation's website at www.spectraldx.com\n and on SEDAR at www.sedar.com.\n\n\nShorecrest Group has been retained as the proxy solicitation agent for\n the Special Meeting. For questions or assistance, please contact\n Shorecrest toll-free at 1-888-637-5789, locally at 647-931-7454 or by\n email at [email protected].\n\n\nAbout Spectral Diagnostics\n\n\nSpectral is a Phase III company seeking U.S. FDA approval for its lead\n theranostics product for the treatment of severe sepsis with septic\n shock. PMX is a therapeutic hemoperfusion device that removes\n endotoxin, which can cause sepsis, from the bloodstream. Directed by\n the Company's Endotoxin Activity Assay (EAA™), the only FDA-cleared\n diagnostic for the risk of developing sepsis, Spectral's EUPHRATES\n trial is the world's most advanced Phase III study in the area of\n septic shock.\n\n\nPMX has been approved for therapeutic use in Japan and Europe, and has\n been used safely and effectively on more than 100,000 patients to date.\n In March 2009, Spectral obtained the exclusive development and\n commercial rights in the U.S. fo...