TORONTO--(BUSINESS WIRE)--Antibe Therapeutics Inc. (“Antibe” or the “Corporation”) (TSXV:ATE) announces an increase to the size of its non-brokered private placement to a total of approximately 2.27 million units (the “Units”) at a price of $0.55 per Unit, from the previously announced total of approximately 1.8 million Units, each Unit comprised of one Common Share of the Corporation and one-half of one Common Share purchase warrant (“Warrant”) with each whole Warrant entitling the holder to purchase an additional Common Share (“Warrant Share”) at a price of $0.80 per Warrant Share for a term of thirty-six (36) months following the date of issuance, for gross proceeds of up to $1.25 million (the "Offering").
The initial closing of the Offering on 1,635,354 Units took place on December 30, 2013. The final closing of the Offering is expected to take place on or about January 28, 2014, subject to TSXV approval, as well as to the satisfaction of customary closing conditions.
The securities described in this offering 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 accordingly, may not be offered or sold within the United States or to "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act ("U.S. Persons") except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States or to U.S. Persons, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful.
About Antibe Therapeutics Inc.
Antibe Therapeutics Inc. originates, develops and out-licenses patent-protected new pharmaceuticals that are improved versions of existing drugs. These improvements are based on Nobel Prize-winning medical research highlighting the crucial role of gaseous mediators, chemical substances produced in the human body to regulate a range of fundamental cellular processes. The Corporation’s drug design methodologies involve chemically linking an existing off-patent drug (“base drug”) to an Antibe-patented, hydrogen sulfide-releasing molecule. For medical conditions characterized by inflammation, pain or vascular dysfunction, the Corporation’s methodologies can efficiently produce improved versions of a number of existing drugs. Notably, Antibe’s products are themselves fully patent-protectable and may benefit from the predictable toxicity and effectiveness profiles of the base drug.
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.