Business
Helix Biopharma Corp. Announces Extension of Early Warrant Exercise Incentive Program and Receipt of Private Placement Subscription
RICHMOND, ON / ACCESSWIRE / April 13, 2022 / Helix BioPharma Corp. (TSX:HBP) ("Helix" or t...
About this update from Helix Biopharma Corp.
[{"type":"text","content":"Helix Biopharma Corp. Announces Extension of Early Warrant Exercise Incentive Program and Receipt of Private Placement SubscriptionRICHMOND, ON / ACCESSWIRE / April 13, 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, is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (the \"TSX\") to extend its previously announced Early Warrant Exercise Incentive Program (the \"Incentive Program\") from April 28, 2022 to May 31, 2022. The Incentive Program is a period during which holders of the Company's eligible common share purchase warrants (\"Eligible Warrants\") may take advantage of a temporary reduction in the exercise price of the Eligible Warrants to a price of C$0.26 (\"Incentive Exercise Price\") and is more fully detailed in the Company's March 11, 2022 news release. The extension of the Incentive Program is subject to final approval of the TSX.Eligible Warrants are those warrants that are not held by insiders of the Company or non-arm's length parties, including all such warrants previously referenced in the Company's March 11, 2022 news release. The Eligible Warrants include an aggregate of 49,806,469 warrants that if exercised at the Incentive Exercise Price will result in the Company receiving gross proceeds of up to $12,949,682. There can be no assurances as to the number of Eligible Warrants that will be exercised under the Incentive Program.In connection with the extension of the Incentive Program, the Company also announces that it is further extending the exercise period of a total of 4,683,500 warrants (the \"Extended Warrants\"), all of which are held by arm's length parties, until May 31, 2022 (the \"Warrant Extension\"). The Extended Warrants were issued pursuant to private placements of the Company that closed in April 2015, have a current exercise price of $1.54 (prior to the contemplated adjustment pursuant to the Incentive Program), have a current expiry date of April 28, 2022, and represent approximately 3.16% of the Company's issued and outstanding common shares. The expiry date of the Extended Warrants is being extended in order to provide the holders of such warrants with ...