Vancouver, British Columbia--(Newsfile Corp. - March 11, 2021) - Advanced Proteome Therapeutics Corporation (TSXV: APC) (FSE: 0E8) ("APC" or the "Company") is pleased to announce that it has increased its previously announced private placement financing (see March 1st, 2021 news release) from up to 6,097,561 units of the Company ("units) to up to 7,317,073 Units at a price of $0.205 per unit for gross proceeds of up to $1,500,000. Each unit will consist of one common share and one transferable common share purchase warrant of the Company, with each whole warrant exercisable for a period of 12 months from the date of closing at a price of $0.27 per share.
Finder's fees may be payable in accordance with the policies of the Exchange. 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 as follows:
| Description: | Use of Proceeds |
| Funding of the Company's subsidiary for research and development activities related to the Company's site-selective linker technology for the development of antibody-drug conjugates: | $650,000 |
| General working capital: | $850,000 |
| Total: | $1,500,000 |
The Company confirms that there is no material fact or material change about the Company that has not already been generally disclosed. Closing is expected to occur on or before March 19, 2021.
ABOUT THE COMPANY:
Advanced Proteome Therapeutics Corporation, through its subsidiary, Advanced Proteome Therapeutics Inc., has invented proprietary protein conjugation technology which enables the development of superior antibody-drug conjugates through improved site-specific labeling, drug-antibody ratio control and enabling of combination payloads. The technology has compelling pre-clinical data demonstrating improved homogeneity and increased in-vivo potency relative to current state of the art linker technology. The Company believes that the technology will enable the development of safer and more potent antibody-drug conjugate therapeutics and is pursuing licensing and partnership opportunities to advance development and create shareholder value.
FOR FURTHER INFORMATION PLEASE CONTACT:
Advanced Proteome Therapeutics Corporation
Paul Woodward, President and Chief Executive Officer
Tel: 604.690.3797
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.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
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