Business
Helix Biopharma Corp. Closes Private Placement of CAD $4.62 Million
(TheNewswire) NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR ...
About this update from Helix Biopharma Corp.
[{"type":"text","content":"Helix Biopharma Corp. Closes Private Placement of CAD $4.62 Million\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE\nSERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n \n \n \n Toronto, Ontario –\n \n \n TheNewswire\n– November 3, 2022 -\n \n \n Helix\nBioPharma Corp.\n \n \n (TSX:HBP) (“Helix” or the\n“Company”), 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 a\n \n \n private\n \n \n placement\n \n \n financing\n \n \n for\n \n \n net\n \n \n proceeds\nof CAD $4,629,019.86 from the issuance of 25,716,777 common shares at\na price of $0.18 per common share.\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. Gabor, 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 ending on March 4, 2023, in accordance with applicable\nsecurities law. In connection with the closing, the Company will pay a\ncash fee of 10% of gross proceeds raised to an eligible finder.\n \n \n \n \n The Company intends to use the net proceeds of the\nprivate placem...