SAINT LAURENT, Quebec, Dec. 19, 2019 (GLOBE NEWSWIRE) -- IntelGenx Technologies Corp. (TSXV: IGX) (OTCQX: IGXT) (the “Company” or “IntelGenx”) is pleased to announce that it has filed a preliminary short form prospectus (the “Prospectus”) with respect to an offering (the “Offering”) of units (“Units”) for a minimum of Cdn$4,000,000 and a maximum of Cdn$10,000,000 aggregate gross proceeds. Each Unit will consist of one share (an “Offered Share”) of the common stock of the Company (“Common Stock”) and one half of one common stock purchase warrant (each whole common stock purchase warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one share of Common Stock (a “Warrant Share”). Concurrently with the filing of the Prospectus, the Corporation has filed a registration statement on Form S-1 (the “Registration Statement”) with the United States Securities and Exchange Commission (the “SEC”) to register the Units and the Warrant Shares.

The Offering is being conducted on a commercially reasonable best efforts basis by Echelon Wealth Partners Inc. (the “Agent”) in the provinces of British Columbia, Alberta, Manitoba and Ontario. Final pricing of the Units (the “Offering Price”), the Warrant exercise price and term, and the determination of the number of Units to be sold pursuant to the Offering will be determined in the context of the market prior to the filing of the final short form prospectus in respect of the Offering.

The Company has granted to the Agent an option to increase the size of the Offering by up to 15%, exercisable in whole or in part at any time for a period of 30 days after and including the closing date of the Offering.

The net proceeds from the Offering will be used for the Company’s Phase 2A Montelukast Study, general working capital requirements, and, depending on the size of the offering, expansion of the Company’s manufacturing facility.

The Company will apply to list the Offered Shares and the Warrant Shares underlying the Units on the TSX Venture Exchange (the “TSXV”). There is no established trading market for the Warrants and IntelGenx does not expect a market to develop. A copy of the Prospectus is available under the Corporation’s profile at www.sedar.com and a copy of the Registration Statement can be obtained from the SEC’s website at www.sec.gov or by request to Echelon Wealth Partners Inc. at This email address is being protected from spambots. You need JavaScript enabled to view it.. The Offering is subject to certain customary conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSXV and the SEC declaring the Registration Statement effective.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of its acceptance given after the effective date.

About IntelGenx

IntelGenx is a drug delivery company focused on the development and manufacturing of pharmaceutical films.

IntelGenx’s film technologies, including VersaFilm®, VetaFilm™ and transdermal, allow pharmaceutical products that address unmet medical needs. IntelGenx’s product pipeline offer benefits to patients and physicians for many therapeutic conditions.

IntelGenx's team provides pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx's manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production.

Forward-Looking Information and Statements

This document may contain forward-looking information or forward-looking statements within the meaning of applicable U.S. and Canadian securities laws. These statements are statements that are not purely historical. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. These statements are statements that are not purely historical and include, but are not limited to, statements about the completion of the Offering, the use of the Offering proceeds, IntelGenx's plans, objectives, expectations, strategies, intentions or other characterizations of future events or circumstances and are generally identified by the words “may”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “could”, “would”, and similar expressions. These forward-looking statements include statements regarding the terms of the Offering, the use of proceeds, the listing of the Offered Shares and Warrant Shares on the TSXV, the declaration of the effectiveness of the Registration Statement, and the timing for closing of the Offering. All forward looking statements are expressly qualified in their entirety by this cautionary statement. Because these forward-looking statements are subject to a number of risks and uncertainties, IntelGenx's actual results could differ materially from those expressed or implied by these forward looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the heading “Risk Factors” in the Registration Statement and IntelGenx's annual report on Form 10-K, filed with the United States Securities and Exchange Commission and available at www.sec.gov, and also filed with Canadian securities regulatory authorities and www.sedar.com. The Company does not undertake any obligation to update or revise any Forward-Looking Information, whether as a result of events or circumstances occurring after the date of this press release, unless so required by legislation.

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.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer or solicitation of sale would be unlawful.

For more information, please contact:

Stephen Kilmer
Investor Relations
(514) 331-7440 ext 232
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Andre Godin, CPA, CA
President and CFO
IntelGenx Technologies Corp.
(514) 331-7440 ext 203
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