Liberty Biopharma closes $640K 1st tranche brokered offering

pcNewsWire Liberty Biopharma Inc. (TSX-V: LTY) has closed the first tranche of its previously announced short-form prospectus offering, issuing 3,200,900 units at $0.20 per unit for gross proceeds of $640,180.00.

Kernaghan & Partners Ltd. acted as agent.

News Release

Liberty Biopharma Announces First Tranche Closing of Short-Form Prospectus Offering

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNTITED STATES

June 27, 2017, Richmond, British Columbia – Liberty Biopharma Inc. (TSXV:LTY) (the “Company” or “Liberty”) is pleased to announce that it has closed the first tranche of its previously announced short-form prospectus offering, raising gross proceeds of $640,180.00 for the Company. Kernaghan & Partners Ltd. (the “Agent”) acted as Agent for the Company with respect to the sale of 3,200,900 units (“Units”) of Liberty at a price of $0.20 per Unit (the “Unit Offering”).

Each Unit consists of one common share of Liberty and one common share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one common share of Liberty for a price of $0.50 per common share until 5:00 pm (Vancouver time) on June 27, 2022.

The Agents were paid a cash commission of $38,410.80 in connection with the Unit Offering and received an aggregate of 192,054 non-transferable broker warrants to acquire up to 192,054 common shares at a price of $0.20 per common share until June 27, 2019.

There may be additional closings under the Offering. The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including the final approval of the TSX Venture Exchange. There can be no assurance as to whether there will be additional closings under the Offering, or as to the ultimate size of the Offering.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933 (the “U.S. Securities Act”), as amended, or any U.S. state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

This news release does not constitute an offer to sell or a solicitation to buy securities of Liberty Biopharma in the United States, in any province or territory of Canada or in any other jursidiction. The securities will only be offered for sale by prospectus and only in those jurisdictions where such sales may lawfully be made.

About Kernaghan & Partners Ltd.

Kernaghan & Partners Ltd. is a full service brokerage firm offering advisory services on a global range of products to both retail as well as Institutional investors.

About Liberty Biopharma Inc.

Liberty Biopharma is a clinical stage biopharmaceutical company developing and commercializing regenerative stem cell technologies and therapeutic solutions for independence and quality of life. Our focus is on significant areas of unmet clinical need, such as wound management, osteoarthritis, musculoskeletal injury, cardiovascular diseases, and autoimmune diseases.

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 press release.