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Advanced Proteome Therapeutics Announces Closing of Non-Brokered Private Placement
Vancouver, British Columbia / October 12, 2017 – Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSXV: APC) (FSE: 0E8) is pleased to announce that it has closed a subsequent private placement (the “Private Placement”) raising additional proceeds of $50,000 by the issuance of 1,000,000 units (the “Units”) at a price of $0.05 per Unit. Each Unit consists of one common share and one transferable common share purchase warrant of the Company, with each warrant exercisable for a period of 1 year from the date of closing at a price of $0.10 per share.
The Company paid finder’s fees in the amount of 7% cash and 7% warrants to Haywood Securities Inc. Each finder’s warrant is non-transferable and exercisable for a period of 1 year from the date of closing at a price of $0.10 per share. All securities issued in connection with the Private Placement are subject to a 4-month hold period in Canada.
Additionally, the Company would like to clarify its news release of September 28, 2017, wherein the Company announced that it had raised gross proceeds of $635,873 by the issuance of 12,717,466 Units. The correct gross proceeds raised in the Private Placement that closed on September 28, 2017 was $581,873 through the issuance of 11,637,466 Units. The combined amount raised in both Private Placements was $631,873.30.
The Private Placement proceeds will be used to support the application of the Company’s site-selective technology for the development of antibody-drug conjugates in its industrial partnerships and academic collaborations with world-class institutions devoted to antibody technology and for general working capital.
ABOUT THE COMPANY:
Advanced Proteome Therapeutics Corporation is developing a proprietary technology to directly target cancerous tumors and avoid destroying normal cells. This type of agent is capable of greater potency, higher specificity and lower toxicity than other therapies that can also attach healthy cells. The Company is working to streamline the process by which these agents are prepared, which to date, has been extremely cumbersome, limiting their potential.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Randal D. Chase President and CEO T: 905-252-3629 W: www.advancedproteome.com
Babak Pedram Investor Relations Virtus Advisory Group Inc. T: 416-644-5081 E: email@example.com
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