ADVANCED PROTEOME ANNOUNCES PRIVATE PLACEMENT OF SUBSIDIARY

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia – November 17, 2016 – Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSX VENTURE: APC) (Frankfurt: 0E8)) announces a non-brokered private placement of its wholly-owned subsidiary 1090573 B.C. Ltd. (“PrivCo”) of up to 6,000,000 units (the “Units”) at a price of $0.06 per Unit to raise gross proceeds of up to $300,000 (the “Private Placement”). Each Unit will entitle the subscribers in the Private Placement to receive: one common share of PrivCo, one-half of one common share purchase warrant (each whole warrant, a “Warrant”) and one right to acquire one APC share held by PrivCo in exchange for one PrivCo share held by the subscriber (a “Right”). Each whole Warrant is exercisable into one common share of PrivCo for a period of 18 months from the date of issuance at an exercise price of $0.12. Each Right is exercisable for a period of 18 months from the date of issuance, and is subject to acceleration in the event PrivCo or APC exercises the option under APC’s previously announced collaboration and option agreement with the University of Toronto. If PrivCo or APC exercises the option, the Right will expire 30 days from the date the option is exercised. APC shares transferred to a subscriber upon the exercise of the Right may also be subject to a hold period under applicable Canadian securities legislation.

All securities of PrivCo issued under the Private Placement will be subject to an indefinite “hold period” under applicable Canadian securities legislation.

Proceeds of the Private Placement will be used by PrivCo to subscribe for common shares of the Company under its previously announced private placement of up to 6,000,000 common shares at a price of $0.05 per share.

The Private Placement is subject to approval of the TSX Venture Exchange.

About APC

Advanced Proteome Therapeutics Corporation (APC) is advancing a site-specific protein modification technology platform to enable the development of superior protein therapeutics. Using this technology, APC has generated numerous and diverse modifications of annexin proteins with superior binding and stability properties, which are amenable to further labeling and conjugation for use in therapeutic applications. APC is now vigorously applying its technologies to achieve the site-specific labeling of therapeutic antibodies and provide the next generation of antibody-drug conjugates.

FOR FURTHER INFORMATION PLEASE CONTACT:

Advanced Proteome Therapeutics Corporation
Alexander (Allen) Krantz
President and Chief Executive Officer
Tel: 617-638-0340
https://www.advancedproteome.com

Advanced Proteome Therapeutics Corporation
Babak Pedram
Investor Relations
Virtus Advisory Group Inc.
Tel: 416-644-5081
bpedram@virtusadvisory.com

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 forward-looking statements contained in this news release involve risks and uncertainties, and are subject to change based on various important factors including timely development and acceptance of new products, gaining product approval, successful entry into new markets, changes in financing conditions, and changes in FDA regulations.

2017-04-20T20:49:10+00:00