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Advanced Proteome Therapeutics Announces Closing of First Tranche of a Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Aug. 23, 2018 (GLOBE NEWSWIRE) -- Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSXV: APC) (FSE: 0E8) is pleased to announce that it has closed a first tranche of a non-brokered private placement (the “Private Placement”) raising gross proceeds of $302,000 by the issuance of 6,040,000 units at a price of $0.05 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 two years from the date of closing at a price of $0.075 per share.
The Company paid finder’s fees in the amount of 8% cash and 8% warrants to Mackie Research Capital Corp., Haywood Securities Inc. and Canaccord Genuity Corp. Each finder’s warrant is non-transferable and exercisable for a period of 2 years from the date of closing at a price of $0.075 per share. All securities issued in connection with the Private Placement are subject to a 4‑month hold period in Canada.
The gross proceeds of the Private Placement will be used as follows:
|Description:||Use of Proceeds|
|Research and development activities related to the Company’s site-selective linker technology for the development of antibody-drug conjugates:||$||212,000|
|General working capital:||$||90,000|
The Company confirms that there is no material fact or material change about the Company that has not already been generally disclosed.
ABOUT THE COMPANY:
Advanced Proteome Therapeutics Corporation is developing a proprietary technology to directly target cancerous tumors 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 attack healthy cells. Advanced Proteome is working to streamline the process by which these agents are prepared, which to date, has been extremely cumbersome, limiting their potential. www.advancedproteome.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Advanced Proteome Therapeutics Corporation
William John (Bill) Dickie
President and Chief Executive Officer
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.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.