TORONTO -- (Business Wire)
Antibe Therapeutics Inc. (“Antibe” or the “Corporation”) (TSXV:ATE)
closed the first tranche of a non-brokered private placement of units,
raising gross proceeds of $786,000 (the "Offering"). Under the terms of
the offering, 7,860,000 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 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
finder’s fees in the amount of $57,680 in cash and 576,800 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 1, 2017.
The securities issued are subject to a four-month statutory hold period
until August 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 TSXV approval, as well as
to the satisfaction of customary closing conditions.
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
Contacts:
Antibe Therapeutics Inc.
Dan Legault, 416-473-4095
Chief
Executive Officer
dan.legault@antibethera.com
Source: Antibe Therapeutics Inc.
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