File: '\\swfile\EmailIn\20240328 141705 Attachment 2024-03-28 - HBP - News Release Announcing PP (Final).docx'

March 28, 2024

Press Release

Bay Adelaide Centre - North Tower

40 Temperance Street, Suite 2700

Toronto, ON M5H 0B4

www.helixbiopharma.com

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

Helix Biopharma Corp. Announces

Private Placement of Common Shares

(Toronto, Ontario) - Helix BioPharma Corp. (TSX: "HBP") ("Helix" or the "Company), a clinical-stage biopharmaceutical company developing unique therapies in the field of immune-oncology, based on its proprietary technological platform DOS47, is pleased to announce a proposed private placement financing of 12,766,667 common shares of the Company ("Common Share") at a price of $0.15 per Common Share for gross proceeds of CAD$1,915,000 (the "Offering").

The Company intends to use the net proceeds of the private placement for working capital. The Offering is subject to customary closing conditions including the receipt of all necessary corporate and regulatory approvals, including the approval of the Toronto Stock Exchange. The Common Shares will be subject to a hold period of four months and one day from the closing date in accordance with applicable securities laws. In connection with the closing, the Company will pay a cash fee of 10% of gross proceeds raised to an eligible finder.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities 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 may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws unless an exemption from such registration is available.

About Helix BioPharma Corp.

Helix BioPharma Corp. is a clinical-stage biopharmaceutical company developing unique therapies in the field of immune-oncology for the prevention and treatment of cancer based on our proprietary technological platform DOS47. Helix is listed on the TSX under the symbol "HBP".

For more information, please contact:

Helix BioPharma Corp.

Bay Adelaide Centre - North Tower

40 Temperance Street, Suite 2700

Toronto, ON M5H 0B4

Tel: 604-684-2181

Jacek Antas, CEO

jantas@helixbiopharma.com

Forward-Looking Statements and Risks and Uncertainties

This news release contains forward-looking statements and information (collectively, "forward looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are statements and information that are not historical facts but instead include statements regarding plans, goals, objectives, intentions and expectations with respect to the Company's anticipated Offering, future business, operations, research and development, including the Company's activities relating to DOS47. Forward-looking statements can further be identified by the use of forward-looking terminology such as "will", "plans", "expects", or the negative thereof or any other variations thereon or comparable terminology referring to future events or results, or that events or conditions "will", "may", "could", or "should" occur or be achieved, or comparable terminology referring to future events or results. Forward-looking statements are statements about the future and are inherently uncertain and are necessarily based upon a number of estimates and assumptions that are also uncertain. Although the Company believes that the expectations reflected in such forward- looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Forward-looking statements are intended to provide information about management's current plans and expectations regarding future operations and may not be appropriate for other purposes. Certain material factors, estimates or assumptions have been applied in making forward-looking statements in this news release. The Company's actual results could differ materially from those anticipated in the forward-looking statements contained in this news release as a result of numerous known and unknown risks and uncertainties, including the risk factors discussed in the Company's continuous disclosure record filed under the Company's profile on SEDAR+ at www.sedarplus.ca from time to time. Forward-looking statements and information are based on the beliefs, assumptions, opinions and expectations of Helix's management on the date of this new release, and the Company does not assume any obligation to update any forward-looking statement or information should those beliefs, assumptions, opinions or expectations, or other circumstances change, except as required.