Helix Biopharma Closes $11.4 Million Private Placement

About this update from Helix Biopharma Corp.

[{"type":"text","content":"\n\n\n\nAURORA, Ontario, Sept. 2 /CNW/ -- Helix BioPharma Corp. (TSX; FSE: HBP)\ntoday announced that it has closed its private placement announced on\nSeptember 30, 2008 of 6,800,000 units at $1.68 per unit, for gross proceeds\ntotaling CDN$11,424,000.\n\n\n\n\n\nEach unit consists of one common share and one-half of one common share\npurchase warrant, with each whole common share purchase warrant entitling the\nholder to purchase, subject to adjustment, one common share at a price of\n$2.36 until 5:00 pm Toronto time on October 1, 2011. Proceeds of the\nplacement will be used for working capital, primarily to support Helix's\nresearch & development initiatives.\n\n\n\n\n\nAs a result of the placement, Dorota and Sylwester Cacek have become\n"insiders" of Helix as they now hold more than 10% of Helix's outstanding\ncommon shares. A separate news release is being issued by them in connection\nwith this placement.\n\n\n\nAbout Helix BioPharma Corp.\n\n\nHelix BioPharma Corp. is a biopharmaceutical company specializing in the\nfield of cancer therapy. The Company is actively developing innovative\nproducts for the prevention and treatment of cancer based on its proprietary\ntechnologies. Helix's product development initiatives include its Topical\nInterferon Alpha- 2b and its novel L-DOS47 new drug candidate. Helix is listed\non the TSX under the symbol "HBP".\n\n\n\n\n\nThe Toronto and Frankfurt Stock Exchanges have not reviewed and do not\naccept responsibility for the adequacy or accuracy of the content of this News\nRelease. This News Release contains forward-looking statements and information\nregarding its intended use of proceeds from the private placement the\nCompany's activities, which statements and information can be identified by\nthe words "will be", and "developing". Actual results or events could differ\nmaterially from these forward-looking statements and information due to\nnumerous factors, including without limitation, the risk that proceeds of the\nplacement may be used for purposes other than those currently anticipated;\nresearch & development risks and uncertainty whether the Company's drug\ncandidates will continue to be developed; and Helix's need for additional\nfuture capital. These and other risks and uncertainties are further discussed\nin Helix's latest...

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