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This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Antibe Therapeutics Inc. Announces Closing of $5.75 Million Bought Deal Offering

February 27, 2019

TORONTO--(BUSINESS WIRE)--Feb 27, 2019--Antibe Therapeutics Inc. (” Antibe ” or the “ Company ”) (TSXV: ATE, OTCQB: ATBPF), a leader in developing safer therapeutics for pain and inflammation, is pleased to announce that is has closed its previously announced bought deal public offering of 23,000,000 units of the Company (the “ Units ”) at a price of $0.25 per Unit (the “ Offering Price ”) for aggregate gross proceeds of $5,750,000 (the “ Offering ”), including the exercise in full of the Underwriters’ over-allotment option. The Offering was made pursuant to an underwriting agreement dated February 8, 2019 with a syndicate of underwriters led by Bloom Burton Securities Inc., together with Echelon Wealth Partners Inc. and Dominick Capital Corporation (collectively, the “ Underwriters ”).

Each Unit was comprised of one common share of the Company (a “ Common Share ”) and one-half of one common share purchase warrant. Each full warrant is exercisable to purchase one Common Share at any time prior to February 27, 2022 at a price of $0.35 per Common Share.

The units were offered and sold by way of a short form prospectus filed in each of the provinces of Alberta, British Columbia, Manitoba, Ontario, and Saskatchewan. The net proceeds of the Offering will be used to fund research and development activities, including but not limited to, ATB-346’s clinical development, regulatory consulting fees, working capital needs and other general corporate purposes.

As consideration for the services rendered by the Underwriters in connection with the Offering, the Company has paid the Underwriters a cash commission equal to 7% of the gross proceeds raised under the Offering and has granted the Underwriters non-transferable broker warrants equal to 7% of the number of Units sold under the Offering exercisable at any time prior to February 27, 2021 at an exercise price equal to the Offering Price.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Units in any jurisdiction, nor will there be any offer or sale of the Units in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Units have not and will not be registered under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”), or any U.S. state securities laws and, therefore, may not be offered or sold to, or for the benefit or account of, persons within the United States or “U.S. persons” (as such term is defined in Regulation S under the U.S. Securities Act) except pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.

About ATB-346

ATB-346 is a hydrogen sulfide-releasing derivative of naproxen. Nonsteroidal anti-inflammatory drugs (“ NSAIDs ”) are the most commonly used therapy for osteoarthritis, but their use is associated with a high incidence of gastrointestinal ulceration and bleeding. NSAIDs are also widely used in conditions such as rheumatoid arthritis, ankylosing spondylitis, gout, and general pain reduction, with a similarly high rate of gastrointestinal ulceration and bleeding. It is well-accepted that patients with these conditions would benefit greatly from an effective, non-addictive, GI-sparing anti-inflammatory/analgesic agent such as ATB-346.

About Antibe Therapeutics Inc.

Antibe develops safer medicines for pain and inflammation. Antibe’s technology involves linking a hydrogen sulfide-releasing molecule to an existing drug to produce a patented, improved medicine. Antibe’s lead drug ATB-346 targets the global need for a safer, non-addictive drug for chronic pain and inflammation. ATB-352, the second drug in Antibe’s pipeline, targets the urgent global need for a non-addictive analgesic for treating severe acute pain, while ATB-340 is a GI-safe derivative of aspirin. www.antibethera.com.

Antibe’s subsidiary, Citagenix Inc. (“ Citagenix ”), is a leader in the sales and marketing of tissue regenerative products servicing the orthopedic and dental marketplaces. Since its inception in 1997, Citagenix has become an important source of knowledge and experience for bone regeneration in the Canadian medical device industry. Citagenix is active in 15 countries, operating in Canada through its direct sales teams, and internationally via a network of distributor partnerships. www.citagenix.com.

The TSX Venture Exchange has in no way passed upon the merits of the proposed Offering and has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190227005494/en/

CONTACT: Antibe Therapeutics Inc.

Dan Legault

Chief Executive Officer

(416) 473 4095

dan.legault@antibethera.com

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Antibe Therapeutics Inc.

Copyright Business Wire 2019.

PUB: 02/27/2019 08:44 AM/DISC: 02/27/2019 08:44 AM

http://www.businesswire.com/news/home/20190227005494/en