Vimy Pharmaceuticals Completes $12 Million RTO Financing

Vimy Pharmaceuticals Inc. has completed an upsized private placement of subscription receipts for gross proceeds of over $12 million. The offering was conducted in connection with Vimy Pharma’s “go public” transaction which is being completed by way of a “reverse take-over” of Harmony Acquisitions Corp. (TSXV: MONY.P), a TSX Venture Exchange-listed CPC. Following completion of the RTO, Harmony will change its name to “Vimy Pharmaceuticals Corp.”, trade on the TSXV under the ticket “VIMY” and carry on the business of Vimy Pharma.

Vimy Pharma is a Canadian pharmaceutical company focused on improving access to affordable medicines while supporting domestic pharmaceutical manufacturing capacity and long-term Canadian supply resilience. Vimy Pharma is advancing a portfolio of essential medicines as generic pharmaceutical products intended to support patients, healthcare systems, and Canada’s life sciences sector. Earlier this year, Vimy Pharma completed one of its development programs and filed an Abbreviated New Drug Submission (ANDS) with Health Canada, which has been found acceptable for review, for a generic version of Ozempic® (semaglutide injection), a glucagon-like peptide-1 (GLP-1) receptor agonist indicated for the treatment of type 2 diabetes. Vimy Pharma has also filed an ANDS with Health Canada for a generic version of Wegovy® (semaglutide injection), a GLP-1 receptor agonist indicated for weight management. Vimy Pharma undertook its development work in Canada and will carry out its commercial production domestically, with Canadian partners.

The offering was conducted by Beacon Securities Limited as lead agent and sole bookrunner, with a syndicate of agents that included Haywood Securities Inc., Leede Financial Inc. and Research Capital Corporation.

Wildeboer Dellelce LLP is acting for Vimy Pharma in connection with the offering and the go-public transaction with a team comprised of Michael Rennie, Natalie Tershakowec, Alex Karlsen, Jason Kim and Isabelle Logan (corporate finance & securities), together with Jesse Brodlieb (Tax).