Mr. Jacek Antas reports

HELIX BIOPHARMA CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT OF CAD $3 MILLION AND BOARD CHANGES

Helix BioPharma Corp. has closed the first tranche of private placement financing for gross proceeds of $2,998,000 from the issuance of 16,655,557 common shares at a price of 18 cents per common share.

The purchase of common shares by directors/insiders is considered a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company relied on exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the insiders' purchase of common shares. The company did not file a material change report in respect of the related party transaction less than 21 days prior to the closing of the private placement, which the company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the private placement in an expeditious manner.

"We would like to thank all investors for their strong support and confidence in Helix. We look forward to continued efforts toward this exciting program," said Jacek Antas, chief executive officer of Helix.

The common shares issued pursuant to the private placement are subject to a statutory hold period of four months and one day, in accordance with applicable securities law. ARM Asset Risk Management acted as the placement agent for the offering.

The company intends to use the net proceeds of the private placement for working capital and advancing the company's L-DOS47 drug development program.

Board changes

The company has appointed Janusz Grabski to the board of directors of the company with an immediate effect. Mr. Grabski is a lawyer specialized in corporate law and real estate law with over 20 years of experience. Mr. Grabski is based in Warsaw, Poland. Alongside the appointment, the company also announces resignation of Christopher Maciejewski from the board of directors of the company due to personal reasons.

"On behalf of Helix, I would like to thank Mr. Maciejewski for his service and wish him the best. The board and management welcome Mr. Grabski to the board and look forward to working with him," said Mr. Antas.

About Helix BioPharma Corp.

Helix BioPharma is a clinical-stage biopharmaceutical company developing unique therapies in the field of immune-oncology for the prevention and treatment of cancer based on the company's proprietary technological platform, DOS47.

Helix is listed on the Toronto Stock Exchange under the symbol HBP.

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