Briacell Therapeutics Corp. Announces Shares for Debt Issuance
BERKELEY, Calif. and VANCOUVER, British Columbia, Aug. 11, 2020 (GLOBE NEWSWIRE) -- BriaCell Therapeutics Corp. ("BriaCell" or the "Company") (TSX-V:BCT) (OTCQB:BCTXF), a clinical-stage biotechnology company specializing in targeted immunotherapy for advanced breast cancer, announces that it has entered into a debt settlement agreement (“Debt Settlement”) with a creditor, that has provided legal services to the Company, to extinguish, or partially extinguish, certain of the Company's outstanding debts owing to them in exchange for the issuance of common shares ("Shares") of the Company. An aggregate of 50,000 Shares at a deemed price of C$7.48 per Share are proposed to be issued to settle C$374,000 in debt owing to the creditors pursuant to this Debt Settlement.
The completion of the Debt Settlement is subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the Debt Settlement will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable securities legislation.
About BriaCell
BriaCell is an immuno-oncology focused biotechnology company developing targeted and effective approaches for the management of cancer.
For additional information on BriaCell, please visit: .
Cautionary Note Regarding Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation (also known as "forward-looking statements") which are subject to known and unknown risks relevant to the Company in particular and to the biotechnology and pharmaceutical industries in general, uncertainties and other factors that may cause actual events to differ materially from current expectation. These risks are more fully described in the Company's public filings available at .
These forward-looking statements include, but are not limited to, BriaCell’s plans, objectives, expectations and intentions. Such forward-looking statements reflect BriaCell's current beliefs and are based on information currently available to management. Although the forward-looking statements contained in this news release are based upon what BriaCell believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither 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.
Contact Information
For further information, please contact:
BriaCell Therapeutics Corp.:
William V. Williams, MD
President & CEO
Phone: 1-888-485-6340
BriaCell Therapeutics Corp.:
Farrah Dean
Manager, Corporate Development
Email:
Phone: 1-888-485-6340
