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Press release from Marketwire

Trimel Pharmaceuticals Announces Closing of Overallotment Option

Wednesday, May 01, 2013

Trimel Pharmaceuticals Announces Closing of Overallotment Option

08:18 EDT Wednesday, May 01, 2013

TORONTO, ONTARIO--(Marketwired - May 1, 2013) -

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

Trimel Pharmaceuticals Corporation (TSX:TRL) is pleased to announce the issuance of an additional 7.5 million common shares of the Company at a price of $0.80 per common share for gross proceeds of $6.0 million. The issuance was pursuant to the exercise of the overallotment option granted to a syndicate of underwriters led by RBC Capital Markets and including D&D Securities Inc. and Paradigm Capital Inc. in connection with the Company's recent equity offering. The exercise of the overallotment option increases the total gross proceeds of the equity offering to $46.0 million.

Together with the net proceeds from the recently completed equity offering, the Company intends to use the net proceeds from the exercise of the overallotment option to pay for the costs of completing the CompleoTRT™ New Drug Application, payment of certain milestone payments related to CompleoTRT™, manufacturing scale-up costs and finished goods production related to CompleoTRT™, costs of Tefina™ clinical trials, maintenance of cash amounts to remain in compliance with the Company's existing credit facilities, and for general corporate purposes.

This press release does not constitute an offer of securities for sale in the United States or to "U.S. persons" ("U.S. persons"), as such term is defined in Regulation S promulgated under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.

About Trimel

Trimel is a specialty pharmaceutical company actively developing medications for male hypogonadism, female sexual dysfunction and various respiratory disorders. A New Drug Application for CompleoTRT™, a product utilizing Trimel's licensed bioadhesive intranasal gel technology, has been filed with the FDA for regulatory approval in the United States. For more information, please visit www.trimelpharmaceuticals.com.

Notice regarding forward-looking statements:

Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, are assumptions regarding our future operational results. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual performance of the Company is subject to a number of risks and uncertainties, and could differ materially from what is currently expected as set out above. For more exhaustive information on these risks and uncertainties you should refer to our prospectus dated April 18, 2013 which is available at www.sedar.com. Forward-looking information contained in this press release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time, whether as a result of new information, future events or otherwise, except as required by applicable securities law.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
Trimel Pharmaceuticals Corporation
Kenneth G. Howling
Chief Financial Officer
(416) 679-0536
ir@trimelpharmaceuticals.com
www.trimelpharmaceuticals.com

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