Helix Biopharma Corp. Closes Private Placement and Announces Early Warrant Exercise Incentive Program and Extension of Warrant Exercise Period

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[{"type":"text","content":"Helix Biopharma Corp. Closes Private Placement and Announces Early Warrant Exercise Incentive Program and Extension of Warrant Exercise PeriodRICHMOND HILL, ON / ACCESSWIRE / March 11, 2022 / Helix BioPharma Corp. (TSX:HBP) (\"Helix\" or the \"Company\"), a clinical-stage biopharmaceutical company developing unique therapies in the field of immuno-oncology, based on its proprietary technological platform DOS47, today announces that it has closed a private placement financing for gross proceeds of $1,001,000 from the issuance of 3,850,000 common share at a price of $0.26 per common share.In addition, the Company announces that it has applied to the Toronto Stock Exchange (the \"TSX\") to introduce an Incentive Plan (as defined below) to temporarily reduce the exercise price of its issued and outstanding common share purchase warrants (\"Warrants\") that are not held by insiders of the Company, or non-arm's length parties, including all such Warrants expiring on March 31, 2022 to May 12, 2026 (\"Eligible Warrants\"), from their current respective exercise prices to a reduced exercise price of $0.26 (the \"Incentive Exercise Price\").Private PlacementMr. Jerzy Wilczewski (\"Mr. Wilczewski\"), an insider of the Company, subscribed for all 3,850,000 of the common shares issued under the private placement. As a result of the closing of the private placement, Mr. Wilczewski owns, or exercises control or direction over, 23,467,153 common shares, representing approximately 15.94% of the issued and outstanding common shares of the Company on a non-diluted basis, or approximately 24.95% on a partially diluted basis, assuming the full exercise of the 17,659,500 common share purchase warrants that Mr. Wilczewski owns or exercises control or direction over.\"I strongly believe in the new strategy and look forward to further advancements of the company's L-DOS47 drug platform\" said Mr. Wilczewski. \"We are very appreciative of Mr. Wilczewski's continued support\" said Dr. Majewski, Helix's Interim Chief Executive Officer.The Company intends to use the net proceeds of the private placement for working capital and advancing the Company's L-DOS47 drug development program.The purchase of common shares by Mr. Wilczewski is considered a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority ...

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