2015-04-01 22:33 ET - News Release
Mr. Dan Legault reports
Antibe Therapeutics Inc. has
closed the first tranche of a non-brokered private placement of units,
raising gross proceeds of $786,000. Under the terms of
the offering, 7,860,000 units (the "Units") were sold at a price of
$0.10 per Unit, each Unit comprised of one Common Share of the
Corporation and one-half of one Common Share purchase warrant
("Warrant") with each whole Warrant entitling the holder to purchase an
additional Common Share ("Warrant Share") at a price of $0.15 per
Warrant Share until April 1, 2018. Net proceeds from the Offering will be used for product development and
for general corporate purposes.
In connection with the private placement, Antibe has agreed to pay
finder's fees in the amount of $57,680 in cash and 576,800 Common Share
purchase warrants ("Finder's Warrants"), each of which will entitle the
holder to purchase a Common Share at a price of $0.10 per share until
April 1, 2017.
The securities issued are subject to a four-month statutory hold period
until August 2, 2015.
Antibe may complete a further closing of this non-brokered private
placement to bring total proceeds to a maximum offering amount of $1.25
million on or before April 9, 2015, subject to TSXV approval, as well as
to the satisfaction of customary closing conditions.
We seek Safe Harbor.