TSXV:APC.H - Post by User
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qwikwiton Mar 15, 2021 2:20pm
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Increased PP
Increased PP
Advanced Proteome increases financing to $1.5-million
2021-03-11 13:53 ET - News Release
Mr. Paul Woodward reports
ADVANCED PROTEOME THERAPEUTICS ANNOUNCES INCREASE OF NON-BROKERED PRIVATE PLACEMENT
Advanced Proteome Therapeutics Corp. has increased its previously announced private placement financing (see March 1, 2021, news release) from up to 6,097,561 units of the company to up to 7,317,073 units at a price of 20.5 cents per unit for gross proceeds of up to $1.5-million. Each unit will consist of one common share and one transferable common share purchase warrant of the company, with each whole warrant exercisable for a period of 12 months from the date of closing at a price of 27 cents per share.
Finders' fees may be payable in accordance with the policies of the exchange. All securities issued in connection with the private placement are subject to a four-month hold period in Canada.
The gross proceeds of the private placement will be used as shown in the attached table.
The company confirms that there is no material fact or material change about the company that has not already been generally disclosed. Closing is expected to occur on or before March 19, 2021.
About Advanced Proteome Therapeutics Corp.
Advanced Proteome Therapeutics, through its subsidiary, Advanced Proteome Therapeutics Inc., has invented a proprietary protein conjugation technology that enables the development of superior antibody-drug conjugates through improved site-specific labelling, drug-antibody ratio control and the enabling of combination payloads. The technology has compelling preclinical data demonstrating improved homogeneity and increased in vivo potency relative to current state-of-the-art linker technology. The company believes that the technology will enable the development of safer and more potent antibody-drug conjugate therapeutics and is pursuing licensing and partnership opportunities to advance development and create shareholder value.
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