NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Burnaby, British Columbia / May 22, 2020 – Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSXV: APC) (FSE: 0E8) is pleased to announce that, further to its news release of February 24, 2020 and subject to the approval of the TSX Venture Exchange, it has closed a non-brokered private placement (the “Private Placement”) raising gross proceeds of $340,565.34 by the issuance of 5,676,089 units at a price of $0.06 per unit.
Each unit consists of one common share and one transferable common share purchase warrant of the Company, with each warrant exercisable for a period of 18 months from the date of closing at a price of $0.10 per share.
The Company paid a finder’s fee of 8% cash to PI Financial Corp. on a portion of the offering. All securities issued in connection with the Private Placement are subject to a 4-month hold period in Canada.
The gross proceeds of the Private Placement will be used for funding of the Company’s subsidiary for research and development activities related to the Company’s site-selective linker technology for the development of antibody-drug conjugates and for general working capital.
The Company confirms that there is no material fact or material change about the Company that has not already been generally disclosed
ABOUT THE COMPANY:
Advanced Proteome Therapeutics Corporation, through its subsidiary, Advanced Proteome Therapeutics Inc., is developing a proprietary technology to directly target cancerous tumors and avoid destroying normal cells. This type of agent is capable of greater potency, higher specificity, and lower toxicity than other therapies that can also attack healthy cells. Advanced Proteome is working to streamline the process by which these agents are prepared, which to date, has been extremely cumbersome, limiting their potential. www.advancedproteome.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Advanced Proteome Therapeutics Corporation
President and CEO
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.