Vancouver, British Columbia / May 20, 2020 – Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSXV: APC) (FSE: 0E8) announces that, subject to the approval of the TSX Venture Exchange (the “Exchange’), it wishes to amend the exercise price and expiration of certain outstanding warrants (the “Warrants”). The Warrants’ exercise price and expiry date are detailed below. Each of these Warrants will be amended to reflect an exercise price of $0.10 each. In accordance with Exchange policies, the Warrants will also be amended to include an acceleration clause whereunder the exercise period of Warrants will be reduced to thirty (30) days, if for any ten consecutive trading days during the unexpired term of the Warrants, the closing price of the Company’s listed shares exceeds the price of $0.125 cents per share. The Warrants will also be extended to August 31, 2020
| Original Exercise Price | Number Outstanding | Original Expiry Date | New Expiration Date |
|---|---|---|---|
| $0.15 | 1,610,000 | June 4, 2020 | August 31, 2020 |
| $0.15 | 540,000 | June 20, 2020 | August 31, 2020 |
The Company confirms that there is no material fact or material change about the Company that has not already been generally disclosed. Closing is expected to occur on or before March 19, 2021.
ABOUT THE COMPANY:
Advanced Proteome Therapeutics Corporation, through its subsidiary, Advanced Proteome Therapeutics Inc., has invented proprietary protein conjugation technology which enables the development of superior antibody drug conjugates through improved site-specific labeling, drug-antibody ratio control and enabling of combination payloads. The technology has compelling pre-clinical data demonstrating improved homogeneity and increased in-vivo potency relative to current state of the art linker technology. The Company believes that the technology will enable the development of safer and more potent antibody-drug conjugate therapeutics and is pursuing licensing and partnership opportunities to advance development and create shareholder value.
FOR FURTHER INFORMATION PLEASE CONTACT:
Advanced Proteome Therapeutics Corporation
Paul Woodward
President and CEO
Tel: 604.690.3797
http://www.advancedproteome.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 securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.