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Hemostemix Offers up to 500 6% Convertible Debentures, Convertible into an ACP-01 Therapeutic Production Slot that is Subject to Compassionate Exemption from Regulatory Approval
Calgary, Alberta--(Newsfile Corp. - March 7, 2023) -  Hemostemix Inc. (TSXV: HEM) (OTCQB: HM...
About this update from Hemostemix Inc
[{"type":"text","content":"Hemostemix Offers up to 500 6% Convertible Debentures, Convertible into an ACP-01 Therapeutic Production Slot that is Subject to Compassionate Exemption from Regulatory ApprovalCalgary, Alberta--(Newsfile Corp. - March 7, 2023) -  Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) (FSE: 2VF0) (\"HEM\" or the \"Company\") is pleased to announce it is selling up to 500 five-year 6% unsecured convertible debentures (\"CD\") at USD $35,000 each. The CD can be converted into one of 500 ACP-01 therapeutic production slots (\"TPS\"), subject to patients' compassionate exemption from regulatory approval, or is convertible into Common Shares of Hemostemix as described below. Tranche 1 of the CD TPS program is structured to sell 500 units to raise capital of up to USD $17,500,000 that may convert to future revenue of up to USD $17,500,000. For example, each $35,000 CD could generate future revenue of up to $35,000 when it is converted by the purchaser into an ACP-01 TPS. \"43 of 46 (93.5%) ACP-01 recipients in the phase II clinical trial saved a limb from amputation, so forward sales of ACP-01 promises to vastly improve quality of life, and generate capital that converts to revenue,\" stated Thomas Smeenk, CEO. \"Sold in tranches, exempt compassionate treatment revenue will de-risk the company, ramp-up production based on sales, fund necessary clinical trials and the scale-up of production to 4,000 batches per month, and enable us to work on the first dividend to our shareholders of a new company that will further realize the value of our technologies\" Smeenk said.Each CD TPS will be sold to purchasers who seek a compassionate treatment, or to clinics who seek to offer a compassionate treatment of ACP-01, on a sequential first-come first-serve basis. The CD will convert to a TPS when the purchaser provides Hemostemix with the compassionate exemption from regulatory approval in the jurisdiction of treatment. Hemostemix may contract with the purchaser to compile the purchaser's compassionate exemption application, to generate additional revenue, and the Company may follow each patient in the same way it followed subjects in its Phase II clinical trial, to define the safety and statistical efficacy of ACP-01 in this cohort of patients.The target markets are the 17 Phase II clinical trial sites,  clinicians, podiatrists, and the patients w...