Helix BioPharma Corp. Closes $6.0 Million Private Placement
12 März 2020 - 10:05PM
Helix BioPharma Corp. (TSX: “HBP”) (“Helix” or the “Company”), an
immuno-oncology company developing innovative drug candidates for
the prevention and treatment of cancer, today announced it has
closed a private placement financing of 5,042,016 units of the
Company (“Units”) at a price of $1.0332 per Unit, and the
concurrent disposition of 1,708,023 shares of the Company’s Polish
subsidiary, Helix Immuno-Oncology S.A. (“HIO”), to a third-party
purchaser, representing an 15.5% equity stake in HIO (together with
the Units, the “Purchased Securities”), for aggregate gross
proceeds of CAD $6,000,000, or $1.19 per Purchased Security.
Each Unit is comprised of one common share and
one common share purchase warrant. Each common share purchase
warrant will entitle the holder to purchase one common share at an
exercise price of $1.67 and have an expiry of five years from the
date of issuance. The terms of the private placement also included
the concurrent disposition by the Company of 1,708,023 shares of
HIO, representing 15.5% of the outstanding shares of HIO. Following
the disposition, the Company owns 51% of the outstanding shares of
HIO.
The Company intends to use the net proceeds of
the private placement for working capital and research and
development activities.
ACM Alpha Consulting Management AG provided
financial advisory services to Helix in connection with the private
placement.
About Helix BioPharma Corp.
Helix BioPharma Corp. is an immuno-oncology
company specializing in the field of cancer therapy. The company is
actively developing innovative products for the prevention and
treatment of cancer based on its proprietary technologies. Helix’s
product development initiatives include its novel L-DOS47 new drug
candidate and Chimeric Antigen Receptor (“CAR”) based cell
therapies. Helix is currently listed on the TSX under the symbol
“HBP”.
Investor Relations
Helix BioPharma Corp.9120 Leslie Street, Suite
205Richmond Hill, Ontario, L4B 3J9Tel: 905-841-2300Email:
ir@helixbiopharma.com
Cautionary Statements
This news release may contain forward-looking
statements with respect to Helix, its operations, strategy,
financial performance and condition, including its activities
relating to its drug development program, any anticipated timelines
for the commencement or completion of certain activities such as
raising sufficient capital, merger and acquisition activity,
listing on a U.S. exchange and other information in future periods.
These statements generally can be identified by use of
forward-looking words such as “may”, “will”, “expect”, “estimate”,
“anticipate”, “intends”, “believe” or “continue” or the negative
thereof or similar variations. The actual results and performance
of discussed herein could differ materially from those expressed or
implied by such statements. Such statements are qualified in their
entirety by the inherent risks and uncertainties surrounding future
expectations, including: (i) Helix’s ability to operate as a going
concern being dependent mainly on securing sufficient additional
financing in order to fund its ongoing research and development and
other operating activities; (ii) the generally inherent uncertainty
involved in scientific research and drug development and those
specific to Helix’s pre-clinical and clinical development programs
(DOS47, L-DOS47, V-DOS47 and CAR-T); (iii) that any transactions
contemplated herein are completed; and (iv) those risks and
uncertainties affecting Helix as more fully described in Helix’s
most recent Annual Information Form, which is available at
www.sedar.com (together, the “Helix Risk Factors”). Certain
material factors and assumptions are applied in making the
forward-looking statements, including, without limitation, that
sufficient financing will be obtained in a timely manner to allow
Helix to continue operations and implement its clinical trials in
the manner and on the timelines anticipated and that the Helix Risk
Factors will not cause Helix’s actual results or events to differ
materially from the forward-looking statements. These cautionary
statements qualify all such forward-looking statements.
Forward-looking statements and information are
based on the beliefs, assumptions, opinions, plans and expectations
of Helix’s management on the date of this news release, and the
Company does not assume any obligation to update any
forward-looking statement or information should those beliefs,
assumptions, opinions, plans or expectations, or other
circumstances change, except as required by law.
The securities offered have not been, and will
not be, registered under the United States Securities Act of 1933,
as amended (the “U.S. Securities Act”), or any state securities
laws, and may not be offered or sold within the United States or
to, or for the account or benefit of, any U.S. persons (as defined
in Regulation S under the U.S. Securities Act) unless pursuant to
an exemption from those registration requirements. This press
release does not constitute an offer to sell or a solicitation of
an offer to buy any such securities of Helix BioPharma Corp. in the
United States or any other jurisdiction.
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