Antibe Therapeutics Raises $1.6 Million Through Warrant Exercises
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.
About Antibe Therapeutics Inc.
Antibe develops safer medicines for pain and inflammation. Antibe’s technology involves linking a hydrogen sulfide-releasing
molecule to an existing drug to produce a patented, improved medicine. Antibe’s lead drug ATB-346 targets the global need for a
safer, non-addictive drug for chronic pain and inflammation. ATB-352, the second drug in Antibe’s pipeline, targets the urgent
global need for a non-addictive analgesic for treating severe acute pain, while ATB-340 is a GI-safe derivative of aspirin.
www.antibethera.com.
Antibe’s subsidiary, Citagenix Inc. (“Citagenix”), is a leader in the sales and marketing of tissue regenerative products
servicing the orthopedic and dental marketplaces. Since its inception in 1997, Citagenix has become an important source of
knowledge and experience for bone regeneration in the Canadian medical device industry. Citagenix is active in 15 countries,
operating in Canada through its direct sales teams, and internationally via a network of distributor partnerships.
www.citagenix.com.
Forward Looking Information
This news release includes certain forward-looking statements, which may include, but are not limited to, the proposed licensing
and development of drugs. Any statements contained herein that are not statements of historical facts may be deemed to be
forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect",
"intend", "propose" and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that
could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release.
Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not
limited to, the Company’s inability to secure additional financing and licensing arrangements on reasonable terms, or at all, its
inability to execute its business strategy and successfully compete in the market, and risks associated with drug and medical
device development generally. Antibe Therapeutics Inc. assumes no obligation to update the forward-looking statements or to update
the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable
law.
Antibe Therapeutics Inc.
Dan Legault
Chief Executive Officer
(416) 473 4095
dan.legault@antibethera.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20181219005168/en/