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Helix BioPharma Corp. Announces Closing of Private Placement of CAD $3 Million and Board Changes
(TheNewswire) Toronto, Ontario - TheNewswire - August 22, 2023 - Helix BioPharma Co...
About this update from Helix Biopharma Corp.
[{"type":"text","content":"Helix BioPharma Corp. Announces Closing of Private Placement of CAD $3 Million and Board Changes \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Toronto, Ontario -\n \n \n TheNewswire - August 22, 2023 -\n \n \n Helix BioPharma Corp.\n \n \n (TSX:HBP)\n \n \n (“\n \n \n Helix\n \n \n ” or the\n“\n \n \n Company\n \n \n ”), a clinical-stage biopharmaceutical company developing\nunique therapies in the field of immuno-oncology, based on its\nproprietary technological\n \n \n platform\n \n \n DOS47,\n \n \n today announces\n \n \n that\n \n \n it\n \n \n has\n \n \n closed\n \n \n the\nfirst tranche of private\n \n \n placement\n \n \n financing\n \n \n for\n \n \n gross\n \n \n proceeds of CAD $2,998,000 from the\nissuance of 16,655,557 common shares at a price of $0.18 per common\nshare.\n \n \n \n \n The purchase of common shares by directors/ insiders is\nconsidered a “related party transaction” within the meaning of\nMultilateral Instrument 61-101 –\n \n \n Protection of Minority Security Holders in\nSpecial Transactions\n \n \n (“MI 61- 101”). The\nCompany relied on exemptions from the formal valuation and minority\napproval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in\nrespect of the insiders purchase of common shares. The Company did not\nfile a material change report in respect of the related party\ntransaction less than 21 days prior to the closing of the private\nplacement, which the Company deems reasonable in the circumstances so\nas to be able to avail itself of the proceeds of the private placement\nin an expeditious manner.\n \n \n \n \n “We would like to thank all investors for their\nstrong support and confidence in Helix. We look forward to continued\nefforts toward this exciting program” said Mr. Antas, CEO of\nHelix.\n \n \n \n \n The common shares issued pursuant to the Private\nPlacement are subject to a statutory hold period of four months and\none day, in accordance with applicable securities law. ARM Asset Risk\nManagement acted as the placement agent for the offering.\n \n \n \n \n The Company intends to use the net proceeds of the\nprivate placement for working capital and advancing the Company’s\nL-DOS47 drug development program.\n \n \n \n \n The securities offered have not been...