Antibe Therapeutics Inc.

07/23/2019 | Press release | Distributed by Public on 07/23/2019 16:59

Antibe Therapeutics Announces Offering of Units

NOT FOR DISTRIBUTION OR DISSEMINATION INTO THE UNITED STATES OR
THROUGH U.S. NEWSWIRE SERVICES

TORONTO, CANADA - (July 23, 2019) - Antibe Therapeutics Inc. ('Antibe' or the 'Company') (TSXV: ATE, OTCQB: ATBPF), a leader in developing safer therapeutics for pain and inflammation, today announced that it has filed a preliminary short form prospectus (the 'Preliminary Prospectus') in connection with a proposed marketed offering of units (the 'Units') of the Company at a price (the 'Offering Price') of $0.30 per Unit (the 'Offering'). Each Unit will be comprised of one common share of the Company (a 'CommonShare') and one-half of one common share purchase warrant (each full warrant, a 'Warrant'). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.40 for a period of 36 months following the closing date of the Offering. The Offering will be made in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario on a 'best efforts' agency basis through a syndicate of agents (collectively, the 'Agents') led by Bloom Burton Securities Inc. and including Echelon Wealth Partners Inc., Dominick Capital Corporation Inc., and Industrial Alliance Securities Inc. The Company also expects to grant to the Agents a 30-day over-allotment option to sell up to an additional 15% of the number of Units and/or Warrants offered in the Offering. The total size of the Offering will be determined in the context of the market at the time of entering into an agency agreement for the Offering.

The Company intends to use the net proceeds of the Offering to fund certain activities in preparation for planned meetings with regulatory agencies and eventual global partnering discussions anticipated to commence subsequent to the completion of the on-going Phase 2B dose-ranging, efficacy study for ATB-346.

Closing of the Offering is subject to customary closing conditions, including, without limitation, receipt of applicable regulatory approvals, including the approval of the TSX Venture Exchange.

A copy of the Preliminary Prospectus, which was filed in each of the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, contains important information relating to the Offering and the Units, and is available on SEDAR at www.sedar.com or by contacting Bloom Burton Securities Inc., 65 Front Street East, Suite 300, Toronto, Ontario, M5E 1B5, e-mail: [email protected]. The Preliminary Prospectus is subject to completion and amendment. There will not be any sale or any acceptance of an offer to buy the Units until a receipt for the final prospectus relating to the Offering has been issued. This news release does not provide full disclosure of all material facts relating to the Units. Investors should read the Preliminary Prospectus, final short form prospectus and any amendment, for disclosure of those facts, especially risk factors relating to the Units, before making an investment decision.

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.


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 gastrointestinal-safe derivative of aspirin. Citagenix Inc., an Antibe subsidiary, is a market leader and worldwide distributor of regenerative medicine products for the dental marketplace. www.antibethera.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.

This news release contains certain 'forward-looking information' as such term is defined under applicable Canadian securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the Offering generally, the terms thereof and the use or proceeds from the Offering) constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions including, without limitation, the ability of the Company to complete the Offering in a timely manner and on the terms and conditions described in the news release. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the failure of the Company to obtain the approval of the TSX Venture Exchange for the Offering; the inability of the Company to satisfy all conditions to the completion of the Offering and the risk of unforeseen delays in the completion of the Offering, if at all, whether as a result of market conditions or otherwise. Reference is also made to the risk factors disclosed under the heading 'Risk factors' in the Company's annual information form for the year ended March 31, 2019 which has been filed on SEDAR and is available under the Company's profile at www.sedar.com. Antibe Therapeutics Inc. Dan Legault Chief Executive Officer Tel: +1 416-473-4095
[email protected]