Antibe Therapeutics Completes Final Closing of Non-Brokered Private Placement Bringing Total Proceeds to $1,250,000
10 4월 2015 - 1:08PM
Business Wire
Antibe Therapeutics Inc. (“Antibe” or the “Corporation”)
(TSXV:ATE) closed the second and final closing of its previously
announced non-brokered private placement of units, raising gross
proceeds of $464,000 (the "Offering"). Under the terms of the
Offering, 4,640,000 units (the “Units”) were sold at a price of
$0.10 per Unit, each Unit comprised of one Common Share of the
Corporation and one-half of one Common Share purchase warrant
(“Warrant”) with each whole Warrant entitling the holder to
purchase an additional Common Share (“Warrant Share”) at a price of
$0.15 per Warrant Share until April 9, 2018.
Net proceeds from the Offering will be used for product
development and for general corporate purposes. As disclosed
previously, Antibe is taking steps to adjust its operations and to
reduce overhead while it conducts additional validating studies. As
part of those efforts, EVP, Strategic Development Dr. Jeremy
Grushcow will be leaving and has reached mutually agreeable terms
with the Company regarding his departure. Dan Legault, CEO of
Antibe said, “It’s been great working with Jeremy; we’ll stay in
close touch and look forward to working with him again.”
In connection with the private placement, Antibe has agreed to
pay finder’s fees in the amount of $20,800 in cash and 208,000
Common Share purchase warrants (“Finder’s Warrants”), each of which
will entitle the holder to purchase a Common Share at a price of
$0.10 per share until April 9, 2017.
The securities issued are subject to a four-month statutory hold
period until August 10, 2015.
The securities described in this offering have not been, and
will not be, registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act"), or any state
securities laws, and accordingly, may not be offered or sold within
the United States or to "U.S. Persons", as such term is defined in
Regulation S promulgated under the U.S. Securities Act ("U.S.
Persons") except in compliance with the registration requirements
of the U.S. Securities Act and applicable state securities
requirements or pursuant to exemptions therefrom. This press
release does not constitute an offer to sell or a solicitation of
an offer to buy any of the Company's securities in the United
States or to U.S. Persons, nor shall there be any sale of these
securities in any state or jurisdiction in which the offer,
solicitation or sale would be unlawful.
About Antibe Therapeutics Inc.
Antibe develops safer medicines for pain and inflammation.
Antibe’s technology involves linking a hydrogen sulfide-releasing
molecule to an existing drug to produce a patented, improved
medicine. Antibe’s lead drug ATB-346 targets the global need for a
safer non-steroidal anti-inflammatory drug (NSAID) for chronic pain
and inflammation. ATB-352, the second drug in Antibe’s pipeline,
targets the urgent global need for a safer analgesic for severe
acute pain.
www.antibethera.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Important Note on Forward Looking Statements
Antibe Therapeutics Inc.Dan Legault, 416-473-4095Chief Executive
Officerdan.legault@antibethera.com
Antibe Therapeutics (TSXV:ATE)
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