Mr. Dan Legault reports
ANTIBE THERAPEUTICS RAISES $786,000 IN FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Antibe Therapeutics Inc. has
closed the first tranche of a non-brokered private placement of units,
raising gross proceeds of $786,000. Under the terms of
the offering, 7.86 million units were sold at a price of
10 cents per unit, each unit composed of one common share of the
corporation and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase an
additional common share at a price of 15 cents per
warrant share until April 1, 2018.
Net proceeds from the offering will be used for product development and
for general corporate purposes.
In connection with the private placement, Antibe has agreed to pay
finders' fees in the amount of $57,680 in cash and 576,800 common share
purchase warrants, each of which will entitle the
holder to purchase a common share at a price of 10 cents per share until
April 1, 2017.
The securities issued are subject to a four-month statutory hold period
until Aug. 2, 2015.
Antibe may complete a further closing of this non-brokered private
placement to bring total proceeds to a maximum offering amount of $1.25-million on or before April 9, 2015, subject to TSX Venture Exchange approval, as well as
to the satisfaction of customary closing conditions.
We seek Safe Harbor.
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