MISSISSAUGA, ON, April 26 /PRNewswire-FirstCall/ - YM BioSciences Inc. (NYSE YMI, TSX:YM), announced today that it has filed a prospectus supplement to its final base shelf prospectus, dated September 16, 2009, with the Ontario Securities Commission, and a supplement to its U.S. prospectus, dated September 16, 2009, forming part of its U.S. registration statement, with the United States Securities and Exchange Commission.
YM has entered into a Sales Agreement, dated April 23, 2010, with Cantor Fitzgerald & Co., under which YM may, at its discretion, from time to time sell up to a maximum of 7,750,000, of its common shares through an "at-the-market" equity offering program known as a Controlled Equity Offering ("CEO"). Cantor Fitzgerald & Co. will act as sales agent for any sales made under the CEO. The common shares will be sold at market prices prevailing at the time of a sale (if any) of the common shares or at prices negotiated with Cantor Fitzgerald & Co., and, as a result, prices may vary as between purchasers and during the period of the offering. The Company is not required to sell any of the reserved shares at any time during the term of the CEO, which extends until October 16, 2011, and there are no stand-by fees for having established the arrangement. The Sales Agreement does not prohibit the Company from conducting additional financings.
|SOURCE YM BioSciences Inc.|
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