TORONTO, June 11, 2018 (GLOBE NEWSWIRE) -- Bradmer Pharmaceuticals Inc. (“Bradmer” or the “Company”) (TSX VENTURE:BMR.H) announced today that the meeting of the holders of Subscription Receipts of Bradmer to be held on June 13, 2018 at 11:00 a.m. (Toronto time) to consider and, if deemed advisable, pass an extraordinary resolution (the “Extension Resolution”) to extend the Release Deadline (as defined in the subscription receipt agreement dated February 14, 2018 (the “Subscription Receipt Agreement”) among Bradmer, Galaxy Digital LP, First Coin Capital Corp., GMP Securities L.P. and TSX Trust Company, in its capacity as subscription receipt agent and in its capacity as escrow agent) has been cancelled pursuant to the terms of the Subscription Receipt Agreement.

Bradmer received written consents indicating approval of the Extension Resolution from greater than two thirds of the aggregate number of outstanding Subscription Receipts. As a result, the Extension Resolution has been approved by instrument in writing and the “Release Deadline” set out in the Subscription Receipt Agreement is now 5:00 p.m. (Toronto time) on August 13, 2018. The Company currently expects the Release Date (as defined in the Subscription Receipt Agreement) to occur on or about July 31, 2018.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This press release is not part of the Offering and is not an offer to sell or solicitation of any offer to buy any subscription receipts or other securities. The subscription receipts have not been and will not be registered under the applicable securities laws of the United States, Canada or any other jurisdiction. None of the U.S. Securities and Exchange Commission, any U.S. state securities commission or any other governmental body or self-regulatory organization has approved or disapproved of the subscription receipts, nor have they passed upon or endorsed the merits of the Offering. Any representation to the contrary is a criminal offence in the United States.

Additional Information

For additional information, please contact:

Paul Van Damme, Chief Financial Officer, Bradmer Pharmaceuticals Inc.