Aeterna Zentaris Announces Exercise of Series B Warrants

QUEBEC CITY, Nov. 12, 2015 /CNW Telbec/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Company") announced today that 1,906,451 Series B Common Share Purchase Warrants (the "Series B Warrants") remained outstanding and that there were approximately 632.7 million Common Shares issued and outstanding at the close of business on November 11, 2015. 

David A. Dodd, Chairman, President and Chief Executive Officer of the Company explained, "The holders of Series B Warrants who agreed on November 1, 2015 to exercise all of the approximately 4.1 million Series B Warrants then held by them have now exercised 2,270,638 of such Series B Warrants.  There remain outstanding 1.1 million Series B Warrants held by one of the holders who is a party to the November 1 agreement and 806,451 Series B Warrants held by a holder who did not become a party to the November 1 agreement.  At the conversion ratio specified in the November 1 agreement the 1.1 million Series B Warrants held by the participating warrantholder will, upon their exercise, result in the issuance of approximately 36.5 million additional common shares.  By extinguishing these Series B Warrants and with our upcoming share consolidation, we anticipate an improved capital structure that will provide the necessary basis to successfully build shareholder value as we proceed toward the completion of our pivotal, phase 3 program for Zoptrex™, which recently received the DSMB recommendation to proceed to completion, as well as the completion of the confirmatory trial for Macrilen™ and, our anticipated continued increase in revenue contribution from our current and anticipated additional commercial activities."

About Aeterna Zentaris Inc.

Aeterna Zentaris is a specialty biopharmaceutical company engaged in developing and commercializing novel treatments in oncology, endocrinology and women's health.  For more information, visit www.aezsinc.com.

Forward Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the US Securities Litigation Reform Act of 1995.  The statements in the press release regarding the progress we are making toward the creation of shareholder value and the anticipated continued increase in revenue contribution from our current and anticipated additional commercial activities are forward-looking statements.  Forward-looking statements involve known and unknown risks and uncertainties that could cause actual events to differ materially from those in the forward-looking statements.  Such risks and uncertainties include, among others, those set forth in our quarterly and annual filings with the Canadian and US securities commissions. 

Investors should consult such filings for additional information on risks and uncertainties relating to forward-looking statements.  Investors are cautioned not to place undue reliance on these forward-looking statements.  The Company does not undertake to update these forward-looking statements.  We disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, unless required to do so by a governmental authority or by applicable law.

SOURCE Aeterna Zentaris Inc.

Philip Theodore, Senior Vice President, [email protected]