Business
Helix BioPharma Closes $11.0 Million Private Placement
Helix BioPharma Closes $11.0 Million Private Placement
About this update from Helix Biopharma Corp.
[{"type":"text","content":"\n\n\n\n Aug. 6, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\n\n >\n\nAURORA, Ontario, Aug. 6 /CNW/ -- Helix BioPharma Corp. (TSX, FSE: "HBP" / Pink Sheets: HXBPF) today announced that it has closed a private placement of 4,530,000 units at $2.43 per unit.\n\nEach unit consists of one common share and one common share purchase warrant, with each common share purchase warrant entitling the holder to purchase, subject to adjustment, one common share of the Company at a price of $3.402 for up to three years after the closing date of the private placement. Net proceeds after expenses are expected to be approximately $9.5 million and will be used for working capital, primarily to support the Company's expanding clinical trial initiatives.\n\nAs a result of the placement, Mr. Zbigniew Lobacz has become an "insider" of Helix as he now holds more than 10% of Helix's outstanding common shares. A separate news release is being issued by him in connection with this placement.\n\nThe securities offered will not be and have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any state of the United States, and may not be offered or sold in the United States or to a U.S. person absent registration or an applicable exemption from registration requirements. The distribution of the securities offered is exempted from provincial securities laws in Canada.\n\n >\n\nHelix BioPharma Corp. is a biopharmaceutical company focused on cancer therapy. The Company is actively developing innovative products for the prevention and treatment of cancer based on its proprietary technologies. Helix's product development initiatives include its Topical Interferon Alpha- 2b and its novel L-DOS47 new drug candidate. Helix is listed on the TSX under the symbol "HBP". For more information, please visit www.helixbiopharma.com.\n\n >\n\n \n \nFor further information contact:\n \n\n >\n\nTh...