ADVANCED PROTEOME ANNOUNCES CLOSING OF SECOND TRANCHE OF APC PRIVATE PLACEMENT, EXTENSION OF THIRD TRANCHE AND CLOSING OF SUBSIDIARY PRIVATE PLACEMENT

VANCOUVER, BC – December 23, 2016 – Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSX VENTURE: APC) (Frankfurt: 0E8) is pleased to announce that it has closed the second tranche of a non-brokered private placement (the “APC Private Placement”) announced October 25, 2016 to raise an aggregate of $600,000 through the issuance of (i) up to 6,000,000 units (“Units”) at $0.05 per Unit and (ii) up to 6,000,000 common shares at $0.05 per share.

As announced on October 31, 2016, the Company previously closed the first tranche of the APC Private Placement and issued 2,600,000 Units at a price of $0.05 per Unit for gross proceeds of $130,000.

Under the second tranche of the APC Private Placement, the Company has issued (i) 1,250,000 Units at a price of $0.05 per Unit for gross proceeds of $62,500, and (ii) 4,000,000 common shares at a price of $0.05 per share for gross proceeds of $200,000; for combined total gross proceeds of $262,500. Each Unit consists of one common share in the capital of the Company and one non-transferable share purchase warrant, each warrant entitling the holder to purchase one additional common share in the capital of the Company at a purchase price of $0.10 per share on or before December 22, 2017.

In connection with the second tranche of the APC Private Placement, Canaccord Genuity Corp. received (i) $4,687.50 in cash, and (ii) 125,000 non-transferable warrants (“Finders Warrants”). Each Finder’s Warrant is exercisable into one common share in the capital of the Company at a price of $0.10 per share on or before December 22, 2017.

All securities issued by the Company pursuant to this tranche of the APC Private Placement are subject to a hold period of four months and one day which expires on April 23, 2017.

Net proceeds of the APC 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 Company also announces that the TSX Venture Exchange (“TSXV”) has granted the Company an extension to complete closing of the third tranche of the APC Private Placement from December 24, 2016 to January 24, 2017.

The APC Private Placement is subject to final approval by the TSXV.

Closing of Subsidiary’s Private Placement

The Company further announces that its subsidiary, 1090573 B.C. Ltd. (the “Subsidiary”), has closed its non-brokered private placement (the “Subsidiary Private Placement”) announced on November 17, 2016 to raise an aggregate of $240,000.

Under the Subsidiary Private Placement, the Subsidiary issued 4,000,000 units (“Subsidiary Units”) at a price of $0.06 per Subsidiary Unit. Each Subsidiary Unit consists of one common share of the Subsidiary, one-half of one common share purchase warrant (each whole warrant, a “Subsidiary Warrant”) and one right to receive one APC share held by the Subsidiary in exchange for one Subsidiary share held by the subscriber (a “Right”). Each whole Subsidiary Warrant is exercisable into one common share of the Subsidiary for a period of 18 months at an exercise price of $0.12. Each Right is exercisable for a period of 18 months subject to acceleration if the Subsidiary exercises the option under APC’s previously announced Collaboration and

Option Agreement with the University of Toronto. If the Subsidiary exercises the option, the Right will expire 30 days from the date the option is exercised. The common shares of the Subsidiary issued pursuant to the Subsidiary Private Placement and upon exercise of the Subsidiary Warrants are subject to an indefinite hold period under applicable securities laws.

Net proceeds raised in the Subsidiary Private Placement were used by the Subsidiary to subscribe for 4,000,000 common shares of APC under the APC Private Placement and for general working capital.

Upon completion of the Subsidiary Private Placement, APC holds 59.8% of the issued and outstanding common shares of the Subsidiary.

The Subsidiary Private Placement is subject to final approval by the TSXV.

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.
This communication contains certain forward-looking statements relating to the Company’s business, which can be identified by the use of forward-looking terminology such as “estimates”, “believes”, “expects”, “may”, “will”, “should”, “future”, “potential” or similar expressions or by a general discussion of the Company’s strategies, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results of operations, financial position, earnings, achievements, or industry results, to be materially different from any future results, earnings or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward-looking statements to reflect future events or developments.

2017-04-09T23:54:42+00:00