Trimel Pharmaceuticals Completes Going Public Transaction

On July 14, 2011, Trimel Pharmaceuticals Corporation (Trimel) completed a going public transaction valued at approximately $200 million consisting of a private placement of securities of its Barbados subsidiary, Trimel BioPharma Holdings Inc. (“Trimel Holdings”), an amalgamation, reverse takeover and listing on the Toronto Stock Exchange and the clearance of a non-offering prospectus with the Ontario Securities Commission. The reverse takeover constituted the qualifying transaction for J5 Acquisition Corp. (J5), Trimel's predecessor, pursuant to Policy 2.4 – Capital Pool Companies of the TSX Venture Exchange. The net proceeds of the private placement will be used by Trimel to further develop its 21st century dosing technologies specifically designed to avoid first-pass metabolism, including Trimel's lead product candidate, Compleo TRT, indicated for the treatment of male hypogonadism or low testosterone —commonly known as “Low T.” Trimel's shares trade on the Toronto Stock Exchange under the symbol TRL.

The private placement component of the transaction was completed through a syndicate of agents led by GMP Securities L.P. and Cannaccord Genuity Corp.

Trimel Holdings was represented in-house by Mark Thompson, General Counsel and Corporate Secretary.

Trimel Holdings was advised by Davies Ward Phillips & Vineberg LLP, with a team comprising Carol Hansell, Conrad Druzeta and Matthew Hawkins (corporate and securities); Gerald Shepherd and Daniela Liscio (US securities) and Paul Lamarre and Shannon Nelson (tax). Trimel Holdings was advised regarding Barbados law by Liza Harridyal-Sodha and Keisha Hyde Porchetta of Harridyal-Sodha & Associates.

Fasken Martineau DuMoulin LLP acted as counsel to J5 with a team comprising Rubin Rapuch, Krisztian Toth and Francesco Tallarico (corporate and securities) and Mitchell Thaw (tax).

Torys LLP acted as counsel to the agents, with a team comprising Cheryl Reicin, Thomas Yeo, Andrew Prodanyk, Alison Harnick and Eli Monas (corporate and securities) and Ingrid VanderElst, Karen Townsend and Sumeet Dang (intellectual property).