On October 2, 2020, pursuant to the Agreement, the Company will issue a total of 850,500 common shares in exchange for the repurchase and cancellation of 3.78 million warrants (NYSE American: KLR WS) previously issued by the Company in connection with its December 2017 initial public offering (the “Public Warrants”). The agreement reduced the total number of outstanding public warrants by approximately 35%, from $10.8 million to $7.0 million. This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including the expected initial closing date of the warrant exchange, the Company`s ability to enter into partnerships, obtain additional financing and restore compliance with Nasdaq`s listing standards and further develop the Company`s clinical programs. Some or all of the forward-looking statements contained in this press release may prove to be inaccurate. Forward-looking statements may be influenced by inaccurate assumptions that OXiGENE may make or by known or unknown risks and uncertainties, including, but not limited to, the parties` failure to comply with the closing conditions of the warrant exchange agreement, the Company`s inability to raise additional capital, engage potential strategic partners or obtain regulatory advice from the FDA; and the potential of VDAs to provide greater clinical benefit to patients. Additional information regarding factors that could cause actual results to differ materially from those of forward-looking statements is contained in OXiGENE`s reports to the Securities and Exchange Commission, including OXiGENE`s reports on Forms 10-K, 10-Q and 8-K. However, OXiGENE assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. For the year ended December 31, 2009, please refer to Form 10-K. What is a share purchase warrant and why should companies offer it – and why and how would investors use stock buybacks? Traditional warrants, in conjunction with bonds, which are in turn called bonds with warrants, are issued as a sweetener that allows the issuer to offer a lower coupon rate. These warrants are often removable, meaning they can be separated from the bond and sold on secondary markets before they expire. .