Post by
mangle on Apr 07, 2021 2:29pm
April 5th New Release
Unit 104, 8337 Eastlake Drive, Burnaby, BC V5A 4W2 NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Advanced Proteome Therapeutics Announces Closing of Second Tranche of Non-Brokered Private Placement Burnaby, British Columbia / April 5, 2021 Advanced Proteome Therapeutics Corporation (APC or the Company) (TSXV: APC) (FSE: 0E8) is pleased to announce that, further to its news release of March 11, 2021 and subject to the approval of the TSX Venture Exchange, it has closed the second tranche of its non-brokered private placement (the Private Placement) raising gross proceeds of $341,735 by the issuance of 1,667,000 units at a price of $0.205 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 12 months from the date of closing at a price of $0.27 per share. The Company paid finders fees of up to 8% cash and 10% finders warrants to PI Financial Corp. and 10075919 MB LTD. on a portion of the offering. 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 for funding of the Companys subsidiary for research and development activities related to the Companys site-selective linker technology for the development of antibody-drug conjugates and for general working capital. 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, through its subsidiary, Advanced Proteome Therapeutics Inc., 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