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2016-05-10

Neurovive Pharmaceutical: NeuroVive preferential rights issue fully subscribed

NeuroVive Pharmaceutical AB (publ) has completed the preferential
rights issue of units, comprising shares and warrants, authorized by
the Extraordinary General Meeting on 31 March 2016. The preferential
rights issue was 100.4 % subscribed, raising approximately SEK 94.4
million for the company before issue expenses. Upon full utilization
of the warrants, the company will raise an additional SEK 32.6
million. The new issue was guaranteed to 75% through guarantee
commitments. The full subscription means that underwriting guarantees
will not have to be utilized.

THIS DOCUMENT IS NOT TO BE DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR
INTO THE US, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEELAND, SOUTH
AFRICA OR IN ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OF THIS
PRESS RELEASE WOULD BE SUBJECT TO LEGAL RESTRICTIONS.

63.9 % of the preferential rights issue was subscribed for on the
basis of unit rights, and the remainder, 36.6 %, without unit rights.
Overall subscription was 100.4 %, implying that available guarantees
did not need to be utilized. The preferential rights issue raises
some SEK 94.4 million for the company before issue expenses. Upon
full utilization of the warrants, the company will raise an
additional SEK 32.6 million.

"We're very satisfied with the outcome of the new issue, which shows
significant confidence in the company's operations. It's been
extremely rewarding to meet with existing and potential shareholders
during the issue period, and I'd like to welcome all new shareholders
and thank everyone who participated in the new issue for the trust
they've shown in us," commented Erik Kinnman, NeuroVive's CEO.

The allocation of units subscribed for without unit rights under the
preferential rights issue has taken place according to the principles
indicated in the prospectus dated 14 April 2016. Notice of allocation
will be given in the form of a transaction note sent to the relevant
subscriber for allocated units. Allocated units must be settled by no
later than the date indicated on the transaction note.

Share capital and number of shares
The new issue means that the company's share capital will increase by
SEK 899,248 through the new issue of 17,984,960 shares, each with a
quotient value of SEK 0.05.

The new issue also means that the company is issuing 2,248,120
warrants of series 2016/2017:1, conferring the owner with the right
to subscribe for a total of 2,248,120 shares in the company, and
2,248,120 warrants of series 2016/2017:2, conferring the owner with
the right to subscribe for a total of 2,248,120 shares in the
company, which means that share capital may come to increase by a
total of SEK 224,812 upon full utilization of the warrants issued of
series 2016/2017:1 and series 2016/2017:2.

Trading in BTUs
Paid-up subscribed units (BTUs) under the preferential rights issue
are traded on Nasdaq Stockholm under the ticker symbol NVP BTU in the
period until the new issue has been registered with the Swedish
Companies Registration Office, which is expected to take place on or
around 18 May 2016, and will subsequently be replaced by shares and
warrants. In connection with registration, the new shares and
warrants will begin to be traded on Nasdaq Stockholm.

Terms and conditions applying to warrants
One (1) warrant of series 2016/2017:1 confers the right to subscribe
for one (1) share in the company at a subscription price of SEK 6.50.
Subscription for shares in the company on the basis of warrants of
series 2016/2017:1 may take place in the period from 2 January 2017
until 28 February 2017 inclusive.

One (1) warrant of series 2016/2017:2 confers the right to subscribe
for (1) share in the company at a subscription price of 70% of the
volume weighted average price of the company's share on Nasdaq
Stockholm for 15 trading days before the start of the subscription
period, subject to a minimum of SEK 8. Subscription for shares in the
company on the basis of warrants of series 2016/2017:2 may take place
in the period from 1 June 2017 until 30 June 2017 inclusive.

Advisors
Stockholm Corporate Finance AB acted as financial advisor and
Advokatfirman Lindahl KB acted as legal advisor to the company in
connection with the new issue. Aqurat Fondkommission AB acted as
issuing institution in connection with the new issue and Laika
Consulting was responsible for IR and marketing.

About NeuroVive
NeuroVive Pharmaceutical AB (publ) is a pioneer in mitochondrial
medicine and a company committed to the discovery and development of
highly targeted candidates that preserve mitochondrial integrity and
function in areas of significant therapeutic need. NeuroVive's
business approach is driven by value-adding partnerships with
mitochondrial research institutions and commercial partners across
the globe. NeuroVive's portfolio consists of two clinical projects in
acute kidney injury (AKI) and traumatic brain injury (TBI) with
candidates in clinical and preclinical development and two drug
discovery platforms. The NeuroSTAT® product has orphan drug status in
Europe and in the US for treatment of moderate to severe traumatic
brain injury and is currently being evaluated in a study, CHIC.
Ciclosporin (CicloMulsion®) is being evaluated in an on-going study,
CiPRICS, in acute kidney injury during major surgery. NeuroVive's
shares are listed on Nasdaq, Stockholm, Sweden.

For investor relations and media questions, please contact:
Christine Tadgell, NeuroVive, Tel: +46 (0)46 275 62 21 or
ir@neurovive.com

NeuroVive Pharmaceutical AB (publ)
Medicon Village, SE-223 81 Lund, Sweden
Tel: +46 (0)46 275 62 20 (switchboard), Fax: +46 (0)46 888 83 48
info@neurovive.com, www.neurovive.com

NeuroVive Pharmaceutical AB (publ) is required to publish the
information in this news release under The Swedish Securities Market
Act. The information was submitted for publication on the 10 May
2016, at 08.30 CET.

IMPORTANT INFORMATION
Publication or distribution of this press release in certain
jurisdictions may be subject to restrictions according to law and the
people in jurisdictions where this press release has been made public
or distributed should inform themselves and follow such legal
restrictions. This press release does not contain and does not
constitute or form part of an invitation to acquire or subscribe or a
solicitation of any offer to buy or subscribe for shares or other
securities in NeuroVive.

This press release may not be published or distributed, directly or
indirectly, in or into the US, Australia, Hong Kong, Japan, Canada,
New Zeeland, South Africa or in any other jurisdiction where such
distribution would be prohibited by applicable law. The information
in this press release may not be redistributed, reproduced or passed
on in ways that conflict with applicable restrictions. Failure to
comply with these restrictions may constitute a violation of the
United States Securities Act of 1933 or applicable laws of other
jurisdictions.

NeuroVive Pharmaceutical AB (publ) - the mitochondrial medicine
company. The company is listed on NASDAQ OMX Stockholm, Small Cap,
under the ticker symbol NVP. The share is also traded on the OTC
market in the US. NeuroVive Pharmaceutical (OTC: NEVPF) trades on the
OTC Pink Market. Investors can find Real-Time quotes and market
information for the company at www.otcmarkets.com/stock/NEVPF/quote
(http://htt//www.otcmarkets.com/stock/NEVPF/quot)

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http://news.cision.com/neurovive-pharmaceutical/r/neurovive-preferential...
http://mb.cision.com/Main/6574/2005501/513250.pdf

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