MONTREAL, Aug. 6, 2014 (GLOBE NEWSWIRE) -- This press release is being disseminated as required by the early warning requirements of applicable securities laws. Paul Averback MD announces today that he has sold in a private transaction for financial planning purposes 470,600 common shares of Nymox Pharmaceutical Corporation ("Nymox") for a total consideration of US $2,400,000 ($2,622,240 CDN). This sale represents 1.3% of the shares of Nymox issued and outstanding. As a result of this sale, Dr. Averback continues to own and control 10,931,448 shares of Nymox or approximately 31% of the shares of Nymox issued and outstanding. An additional 607,031 shares of Nymox (approximately 1.7%) are owned by a family trust of which Dr. Averback is a trustee. Dr. Averback is subject to the early warning requirements because he is a control person of Nymox by virtue of the fact that he owns more than 20% of the outstanding shares of Nymox. The sale relies on the prospectus exemption contained in Section 2.3 of Regulation 45-106 - Prospectus and Registration Exemptions. Nymox's common shares are listed on the NASDAQ Exchange under the symbol "NYMX".
To obtain a copy of the applicable securities report to be filed in connection with the matters set forth above, please contact:
|c/o Alain Fournier|
|Osler, Hoskin & Harcourt LLP|
|1000 De La Gauchetière West|
|Montréal, Québec H3B 4W5|
|Tel : (514) 904-5390|
Source:Nymox Pharmaceutical Corporation