NASDAQ: CORV TSX: CORV
VANCOUVER, April 8, 2020 /CNW/ - Correvio Pharma Corp.
("Correvio" or the "Company") (NASDAQ: CORV) (TSX:
CORV), a specialty pharmaceutical company focused on
commercializing hospital drugs, today announced that it
has obtained an interim order from the Supreme Court of
British Columbia (the
"Court") authorizing the holding of an annual general and
special meeting (the "Meeting") of the Securityholders (as
defined below) and matters relating to the conduct of the
Meeting.
At the Meeting, shareholders and holders of options, restricted
share units and phantom share units (collectively, the
"Securityholders") will be asked to, among other things,
pass a special resolution relating to the proposed plan of
arrangement (the "Arrangement"), involving the Company and a
subsidiary of ADVANZ PHARMA Corp. Limited ("ADVANZ PHARMA").
As announced in the Company's press release on March 16, 2020, the Arrangement will be carried
out pursuant to an arrangement agreement dated March 15, 2020 among Correvio, ADVANZ PHARMA and
its subsidiary (the "Arrangement Agreement").
The Company will hold the Meeting in a virtual only format,
which will be conducted via live audio webcast at
https://web.lumiagm.com/202877707 on May 15, 2020 commencing at 10:00 a.m. (Pacific time).
Meeting materials including a notice of annual general and
special meeting of Securityholders and management information
circular, are scheduled to be mailed to Securityholders of record
as of April 6, 2020 in advance of the
Meeting in accordance with statutory requirements and the interim
order. Upon completion of the mailing to Securityholders, the
materials for the Meeting will be filed by the Company and will be
available under the Company's SEDAR profile at www.sedar.com.
Securityholders should carefully review all Meeting materials as
they contain important information concerning the Arrangement and
the rights and entitlements of the Securityholders.
About ADVANZ PHARMA
ADVANZ PHARMA operates an international specialty pharmaceutical
business with a diversified portfolio of more than 200 branded and
unbranded products, and sales in more than 90 countries, and going
forward, is focused on becoming the leading platform for niche
established medicines, with advanced commercial capabilities
throughout Western Europe.
ADVANZ PHARMA's registered office is in Jersey, Channel Islands. ADVANZ PHARMA operates
globally through its subsidiaries in Sydney, Australia; London, England; Mumbai, India; Dublin, Ireland; St. Helier, Jersey; and in
Helsingborg Sweden.
About Correvio Pharma Corp.
Correvio Pharma Corp. is a specialty pharmaceutical company
focused on providing innovative, high-quality brands that meet the
needs of acute care physicians and patients. With a commercial
presence and distribution network covering over 60 countries
worldwide, Correvio develops, acquires and commercializes brands
for the in-hospital, acute care market segment. The Company's
portfolio of approved and marketed brands includes:
Xydalba™ (dalbavancin hydrochloride), for the treatment
of acute bacterial skin and skin structure infections (ABSSSI);
Zevtera®/Mabelio® (ceftobiprole medocaril
sodium), a cephalosporin antibiotic for the treatment of community-
and hospital-acquired pneumonia (CAP, HAP); Brinavess®
(vernakalant IV) for the rapid conversion of recent onset atrial
fibrillation to sinus rhythm; Aggrastat® (tirofiban
hydrochloride) for the reduction of thrombotic cardiovascular
events in patients with acute coronary syndrome. Correvio's
pipeline of product candidates includes Trevyent®, a
drug device combination that is designed to deliver treprostinil,
the world's leading treatment for pulmonary arterial
hypertension.
Correvio is traded on the NASDAQ Capital Market (CORV) and the
Toronto Stock Exchange (CORV). For more information, please visit
our web site www.correvio.com.
Correvio's Forward-Looking Statement Disclaimer
Certain statements in this news release contain "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 or "forward-looking information"
under applicable Canadian securities legislation (collectively,
"forward-looking statements"). Forward-looking statements include
statements that may relate to our plans, objectives, goals,
strategies, future events, future revenue or performance, capital
expenditures, financing needs and other information that may not be
based on historical fact. Forward-looking statements can often be
identified by the use of terminology such as "believe", "may",
"plan", "will", "estimate", "continue", "anticipate", "intend",
"expect", "look forward to" and similar expressions.
Forward-looking statements are necessarily based on estimates and
assumptions made by us based on our experience and perception of
historical trends, current conditions and expected future
developments, as well as other factors we believe are
appropriate.
By their very nature, forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause
the actual results, performance, achievements, events or
developments to be materially different from any future results,
performance, achievements, events or developments expressed or
implied by such forward-looking statements. These forward-looking
statements include, but are not limited to the timing of the
Meeting, the mailing of the Meeting materials and the approval of
the Arrangement by Securityholders.
Forward-looking statements are necessarily based on estimates
and assumptions made by us based on our experience and perception
of historical trends, current conditions and expected future
developments, as well as other factors we believe are
appropriate.
These statements reflect Correvio's current views with respect
to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by
Correvio, are inherently subject to significant business, economic,
competitive, political and social uncertainties and contingencies.
Many factors, both known and unknown, could cause actual results,
performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed
or implied by such forward-looking statements or information and
Correvio has made assumptions and estimates based on or related to
many of these factors. Such factors include, without
limitation: risks associated with the arrangement and
acquisitions generally, such as the failure to satisfy the closing
conditions contained in the Arrangement Agreement, the occurrence
of a material adverse effect or other events which may give the
parties a basis on which to terminate the Arrangement Agreement,
the ability of the parties to complete and mail the management
information circular to be prepared in connection with the Meeting,
the ability to hold the Meeting within the time frames indicated,
and the approval of the transaction by the Securityholders and the
risks and uncertainties facing Correvio as discussed in the annual
report and detailed from time to time in our other filings with the
Securities and Exchange Commission ("SEC") available at
www.sec.gov and the Canadian securities regulatory authorities at
www.sedar.com. In particular, we direct your attention to
Correvio's Annual Report on Form 40-F for the year ended
December 31, 2019. All of the risks
and certainties disclosed in those filings are hereby incorporated
by reference in their entirety into this news release.
While Correvio makes these forward-looking statements in good
faith, given these risks, uncertainties and factors, you are
cautioned not to place undue reliance on any forward-looking
statements made in this press release. All forward-looking
statements made herein are made as of the date hereof based on our
current expectations and we undertake no obligation to revise or
update such forward-looking statements to reflect subsequent
events, information or circumstances, except as required by law.
Investors are cautioned that forward-looking statements are not
guarantees of future performance and accordingly investors are
cautioned not to put undue reliance on forward-looking statements
due to their inherent uncertainty.
Correvio® and the Correvio Logo are the proprietary
trademarks of Correvio Pharma Corp.
Aggrastat® and Brinavess® are trademarks
owned by Correvio and its affiliates worldwide.
Xydalba™ is a trademark of Allergan Pharmaceuticals
International Limited, and used under license.
Zevtera® and Mabelio® are trademarks owned by
Basilea Pharmaceutica International Ltd., and used under
license.
Trevyent® is a trademark of SteadyMed Ltd. and used
under license.
All other trademarks are the property of their respective
owners.
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SOURCE Correvio Pharma Corp