Antibe Therapeutics Inc. ("Antibe" or the “Company”) (TSXV:ATE, OTCQB:ATBPF), a leader in developing safer therapeutics for pain and inflammation, today announced that it has received gross proceeds of $1.6 million from the exercise of warrants. A total of 7,066,001 warrants were exercised at a price of $0.22 with expiries on December 15th and 21st, 2018. Nearly all of the warrants expiring in December 2018 were exercised.
Dan Legault, CEO of Antibe, commented, “The exercising of these warrants shows continued confidence by our investors in Antibe’s drug development programs. Furthermore, the gross proceeds together with cash-on-hand fund the balance of our upcoming Phase 2B clinical trial for ATB-346, expected to start in Q1 2019 with results anticipated in Q2 2019.”
In addition, the Company has granted BND Projects Inc. 18,000 options for investor relations services. Each option has an exercise price of $0.245, being the 5-day volume weighted average price of Antibe’s shares, vests quarterly starting on the date of the grant, and will expire December 19, 2021.