Vancouver, British Columbia / September 28, 2017 – Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSXV: APC) (FSE: 0E8) is pleased to announce that, due to high demand, it has closed its over-subscribed private placement (the “Private Placement”) raising gross proceeds of $635,873 by the issuance of 12,717,466 units (the “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 1 year from the date of closing at a price of $0.10 per share.
The Company paid finder’s fees in the amount of 7% cash and 7% warrants to Mackie Research Capital Corporation and Haywood Securities Inc. Each finder’s warrant is non-transferable and exercisable for a period of 1 year from the date of closing at a price of $0.10 per share. All securities issued in connection with the Private Placement are subject to a 4-month hold period in Canada.
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 and for general working capital.
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 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
|Dr. Randal D. Chase
President and CEO
Virtus Advisory Group Inc.
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.