Dr. Randal Chase
ADVANCED PROTEOME THERAPEUTICS ANNOUNCES CLOSING OF
NON-BROKERED PRIVATE PLACEMENT
Advanced Proteome Therapeutics Corp. has closed a subsequent private placement, raising additional proceeds of $50,000 by the issuance of one million units at a price of five cents per unit. Each unit consists of one common share and one transferable common share purchase warrant of the company, with each warrant exercisable for a period of one year from the date of closing at a price of 10 cents per share.
The company paid a finder's fee in the amount of 7 per cent cash and 7 per cent warrants to Haywood Securities Inc. Each finder warrant is non-transferable and exercisable for a period of one year from the date of closing at a price of 10 cents per share. All securities issued in connection with the private placement are subject to a four-month hold period in Canada.
Additionally, the company would like to clarify its news release of Sept. 28, 2017, wherein the company announced that it had raised gross proceeds of $635,873 by the issuance of 12,717,466 units. The correct gross proceeds raised in the private placement that closed on Sept. 28, 2017, was $581,873 through the issuance of 11,637,466 units. The combined amount raised in both private placements was $631,873.30.
The private placement proceeds will be used to support the application of the company's site-selective technology for the development of antibody-drug conjugates in its industrial partnerships and academic collaborations with world-class institutions devoted to antibody technology as well as for general working capital.
About Advanced Proteome Therapeutics Corp.
Advanced Proteome Therapeutics is developing a proprietary technology to directly target cancerous tumours and avoid destroying normal cells. This type of agent is capable of greater potency, higher specificity and lower toxicity than other therapies that can also attach healthy cells. The company is working to streamline the process by which these agents are prepared, which, to date, has been extremely cumbersome, limiting their potential.
We seek Safe Harbor.
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