TORONTO, July 26, 2013 (GLOBE NEWSWIRE) -- Intellipharmaceutics International Inc. (Nasdaq:IPCI) (TSX:I), a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs, today announced that it intends to offer units of its common shares and warrants in an underwritten public offering. Maxim Group LLC is acting as sole book-running manager for the offering. Brean Capital, LLC is acting as co-manager for the offering. While the offering is expected to price before 9:30 am EDT on July 26, 2013, the offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. A shelf registration statement relating to the public offering of the securities described above has been filed with, and declared effective by, the Securities and Exchange Commission ("SEC"). A preliminary prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov . When available, copies of the preliminary prospectus supplement and the accompanying base prospectus relating to these securities may also be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174 or via telephone at (800) 724-0761. Before you invest, you should read the preliminary prospectus supplement and the accompanying base prospectus and other documents Intellipharmaceutics has filed or will file with the SEC for more complete information about Intellipharmaceutics and the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.