TORONTO, Sept. 18, 2015 (GLOBE NEWSWIRE) -- Profound Medical Corp. ("Profound" or "Company") (TSXV:PRN), a medical device company developing and commercializing a unique, minimally invasive treatment to ablate the prostate gland in prostate cancer patients, announced today that it has granted 839,000 share options to employees of the Company, including 525,000 share options granted to certain officers. Each such share option entitles the holder thereof to acquire one common share in the capital of the Company at an exercise price of $1.50, being the equivalent of the issue price per subscription receipt issued in connection with the private placement that closed on April 30, 2015. The exercise price represented a premium to the market price of the Company's common shares on the TSX Venture Exchange on the date the options were granted. The options were issued with a term of 10 years.
About Profound Medical Corp.
Profound Medical is a Canadian medical device company that has developed a unique and minimally invasive treatment to ablate the prostate gland in prostate cancer patients. Profound's novel technology combines real-time MRI imaging with transurethral therapeutic ultrasound and closed-loop thermal feedback control. It provides a highly precise treatment tailored to patient-specific anatomy and pathology. This method of prostate ablation offers short treatment times and low morbidity, allowing for fast patient recovery. The potential of this technology is currently being demonstrated in clinical trials. For more information, visit profoundmedical.com
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding Profound and its business which may include, but is not limited to, the expectations regarding the efficacy of Profound's technology in the treatment of prostate cancer. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity. The forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the pharmaceutical industry, economic factors, the equity markets generally and risks associated with growth and competition. Although Profound has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Profound undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT: Investor and media contacts: Shameze Rampertab CFO Profound Medical Corp. firstname.lastname@example.org T: 647-476-1350, Ext. 424 Rebecca von Goetz Senior Marketing & Communications Specialist Profound Medical Corp. email@example.com T: 647-476-1350, Ext. 426 C: 416.917.8650
Source:Profound Medical Corp.