Stem Cell Therapeutics Announces Filing of Prospectus Supplement for Proceeds Up to $3.5 Million of Units

TORONTO, ONTARIO--(Marketwire - March 12, 2013) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Stem Cell Therapeutics Corp. ("SCT") (TSX VENTURE:SSS), a life sciences company developing stem cell-related technologies, announced today that it has filed its prospectus supplement dated March 11, 2013 in each of the Canadian provinces of British Columbia, Alberta, Manitoba, Ontario and Nova Scotia to SCT's base shelf prospectus of March 1, 2011 in respect of its previously announced offering of securities.

The offering consists of up to 14,000,000 units ("Units") which will be offered at $0.25 each for gross proceeds of up to $3.5 million. Each Unit will be comprised of one common share and one common share purchase warrants (the "Warrants"). Each Warrant will entitle the holder to purchase an additional common share for $0.40 for a period of 60 months following the closing of the offering. Euro Pacific Canada Inc. is acting as the agent for the offering.

Closing of the offering is expected to occur on or about March 15, 2013 and is subject to customary conditions, including the approval of the TSX Venture Exchange.

The purpose of the offering is to provide the resources necessary to conclude the acquisition of Trillium Therapeutics Inc. by SCT, announced February 4th, 2013, and to trigger a condition precedent to permit the exercise of the option by SCT to acquire the license to the Tigecycline intellectual property from the University Health Network/MaRS Innovation, Toronto, announced November 7th, 2012. The assets expected to be acquired and licensed will conclude the initial step of SCT's published corporate objectives for advancing the Corporation's interests.

This news release shall not constitute an offer to sell nor the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Stem Cell Therapeutics:

Stem Cell Therapeutics Corp. (TSX VENTURE:SSS) develops stem cell-based therapeutics through partnerships with research institutions and technology transfer organizations. SCT's objectives include the sourcing and acquisition of stem cell-related development opportunities, and securing capital for the advancement of its licensed or acquired products. The Corporation's intended corporate acquisitions and licensed acquisitions are positioning it principally in the field of cancer stem cell therapeutic development. SCT is a member of the 20-member Centre for Commercialization of Regenerative Medicine consortium. For more information, visit: http://www.stemcellthera.com

Forward Looking Statements

See the rest here:
Stem Cell Therapeutics Announces Filing of Prospectus Supplement for Proceeds Up to $3.5 Million of Units