ADVANCED PROTEOME EXTENDS CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT

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

VANCOUVER, British Columbia – November 24, 2016 – Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSX VENTURE: APC) (Frankfurt: 0E8) announces that it has requested and received TSX Venture Exchange approval to extend closing of the second tranche of a non-brokered private placement previously announced October 25, 2016 (the “Private Placement”). By press release dated October 31, 2016 the Company previously announced that it had closed the first tranche of the Private Placement by raising $130,000 through the issuance of 2,600,000 Units. The Company will now schedule closing of the second tranche on or before December 24, 2016. The Private Placement consists of two parts:

(i) Up to $300,000 through the issuance of up to 6,000,000 units (“Units”) at a price of $0.05 per Unit, each Unit consisting of one common share in the capital of the Company and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of twelve months from the date of issuance of the Units, at an exercise price of $0.10 per share.

(ii) Up to $300,000 through the issuance of up to 6,000,000 common shares at a price of $0.05 per share.

The Company may pay finder’s fees comprised of cash and/or securities on a portion of the Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange. All securities issued under the Private Placement will be subject to a four month and one day “hold period” under applicable Canadian securities legislation.

Certain of the Company’s insiders may participate in the Private Placement.

Proceeds of the Private Placement 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.

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.

2017-04-20T20:47:05+00:00