Bioasis Announces Closing of Second Tranche of Previously Disclosed Private Placement
This News Release is Not for Distribution to U.S. Newswire Services or Dissemination in the
United States
BIOASIS TECHNOLOGIES INC . (TSX.V:BTI; OTCQB:BIOAF) (“Bioasis” or the “Company”), a
biopharmaceutical company developing its xB3 ™proprietary platform technology for the delivery of therapeutics
across the blood-brain barrier (BBB) for the treatment of CNS disorders in areas of high unmet medical-need, including brain
cancers and neurodegenerative diseases, is pleased to announce that it has completed a second and final tranche of its
previously announced private placement of units (the “Units”) by issuing an aggregate of 1,280,000 Units at a price
of C$0.552 per Unit, for gross proceeds of C$706,560.
Between the two tranches of the private placement, Bioasis issued a total of 5,083,298 Units for gross proceeds of
C$2,805,980.49.
Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant (each
whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the registered holder to purchase one Common
Share (a “Warrant Share”) at an exercise price of C$0.69 per Warrant Share for a period of 60
months from the date of closing. All shares and warrants issued pursuant to this tranche of the private placement, and any
shares issued in connection with the exercise of warrants, will be subject to a four month hold period expiring on Sept. 25,
2018, in accordance with the policies of the TSXV and applicable securities laws.
Sales to U.S.-based investors were brokered through the Company’s exclusive placement agent Roth Capital Partners (the
“Agent”). The total cash commission paid to the Agent in respect of the private placement was C$64,384.29, representing 7%
of the gross proceeds raised from sales to U.S.-based investors.
As previously disclosed, the net proceeds from the Private Placement will be used to fund further research and development,
clinical development, manufacturing and other activities in respect of the Company’s clinical development pipeline and for working
capital and general corporate purposes.
About Bioasis
Bioasis Technologies Inc. is a biopharmaceutical company developing xB3, a proprietary platform technology for the
delivery of therapeutics across the blood-brain barrier (BBB) and the treatment of CNS disorders, including brain cancers and
neurodegenerative diseases. The delivery of therapeutics across the BBB represents the final frontier in treating neurological
disorders. The in-house development programs at Bioasis are designed to develop symptomatic and disease-modifying treatments for
brain-related diseases and disorders. The company maintains headquarters in Richmond, BC, Canada with offices in Guilford, Conn.,
United States. Bioasis trades on the TSX Venture Exchange under the symbol “BTI” and on the OTCQB under the symbol “BIOAF.” For
more information about the company please visit www.bioasis.ca or www.bioasis.us.
On behalf of the Board of Directors
Bioasis Technologies Inc.
Mark Day, Ph.D., President & Chief Executive Officer
Forward Looking Statements
Certain statements in this press release contain forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation that may not be based
on historical fact, including the Company’s intended use of proceeds of the private placement, along with other statements
containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect” and similar
expressions. Such forward-looking statements or information involve known and unknown risks, uncertainties and other factors that
may cause our actual results, events or developments, or industry results, to be materially different from any future results,
events or developments express or implied by such forward-looking statements or information. Such factors include, among others,
our stage of development, lack of any product revenues, additional capital requirements, risk associated with the completion of
clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property,
dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing
arrangements and their timing. Specifically, certain risks and uncertainties that could cause such actual events or results
expressed or implied by such forward-looking statements and information to differ materially from any future events or results
expressed or implied by such statements and information include, but are not limited to, the risks and uncertainties that: products
that we develop may not succeed in preclinical or clinical trials, or future products in our targeted corporate objectives; our
future operating results are uncertain and likely to fluctuate; we may not be able to raise additional capital; we may not be
successful in establishing additional corporate collaborations or licensing arrangements; we may not be able to establish marketing
and the costs of launching our products may be greater than anticipated; we have no experience in commercial manufacturing; we may
face unknown risks related to intellectual property matters; we face increased competition from pharmaceutical and biotechnology
companies; and other factors as described in detail in our filings with the Canadian securities regulatory authorities at
www.sedar.com . Given these risks and uncertainties, you are cautioned not to place undue reliance on such
forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking
statements and information made herein are based on our current expectations and we undertake no obligation to revise or update
such forward- looking statements and information to reflect subsequent events or circumstances, except as required by law.
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.
Media & Investor Relations
Bioasis Technologies Inc.
Catherine London, +1-917-763-2709
Catherine@bioasis.us
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