YM BioSciences Announces Record Date for Previously Announced Plan
of Arrangement
MISSISSAUGA, ON, Dec. 21, 2012 /CNW/ - YM BioSciences Inc.
(NYSE MKT: YMI, TSX: YM) today announced that the Supreme Court
of Nova Scotia has granted an
interim order, setting, among other things, December 31, 2012 as the record date associated
with the previously announced plan of arrangement. Every
shareholder of record at the close of business on that day will be
entitled to receive notice of and vote at the special meeting of YM
shareholders ("Meeting") at which they will be asked to approve the
plan of arrangement. Pursuant to the terms of the interim order,
the Meeting will be held on Thursday,
January 31, 2013 at 10:00 a.m.
(Toronto time).
Additional Information and Where to Find
It
Further information regarding the transaction will be contained in
an information circular that YM will prepare and mail to its
shareholders in connection with the Meeting, with closing expected
to occur in the first quarter of 2013. YM shareholders are urged to
read the information circular once it becomes available, as it will
contain important information concerning the proposed transaction.
YM shareholders may obtain a copy of the arrangement agreement,
information circular, and other meeting materials when they become
available at www.sec.gov and www.sedar.com.
This press release is for informational purposes
only. It does not constitute an offer to purchase shares of YM or a
solicitation or recommendation statement under the rules and
regulations of the United States Securities and Exchange Commission
or other applicable laws.
About YM BioSciences
YM BioSciences Inc. is a drug development company primarily focused
on advancing CYT387, an orally administered inhibitor of both the
JAK1 and JAK2 kinases, which have been implicated in a number of
hematological and immune cell disorders including
myeloproliferative neoplasms and inflammatory diseases as well as
certain cancers. Positive interim results have been reported from a
Phase I/II trial of CYT387 in 166 patients with myelofibrosis.
This press release may contain
forward-looking statements, which reflect YM's current expectation
regarding future events. These forward-looking statements involve
risks and uncertainties that may cause actual results, events or
developments to be materially different from any future results,
events or developments expressed or implied by such forward-looking
statements. Such factors include, but are not limited to, changing
market conditions; the successful and timely completion of clinical
studies; the establishment of corporate alliances; the impact of
competitive products and pricing; new product development;
uncertainties related to the regulatory approval process or the
ability to obtain drug product in sufficient quantity or at
standards acceptable to health regulatory authorities to complete
clinical trials or to meet commercial demand; and other risks
detailed from time to time in YM's ongoing quarterly and annual
reporting. Except as required by applicable securities laws, YM
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE YM BioSciences Inc.