AURORA, ON--(Marketwired - Apr 29, 2016) - Helix BioPharma Corp. (TSX: HBP) (FRANKFURT: HBP) ("Helix" or the "Company"), a biopharmaceutical company developing innovative drug candidates for the prevention and treatment of cancer, today announced it has closed a private placement financing for aggregate gross proceeds of approximately CAD4.7 million.
The terms of the placement are for the purchase of units at $1.50 per unit. Each unit is comprised of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one common share at an exercise price of $1.98 and have an expiry of five years from the date of issuance. Helix intends to use the net proceeds of the private placement for working capital, promising new immuno-oncology projects in addition to our ongoing clinical development programs.
"These additional funds will allow us to continue moving forward our various research and development initiatives and take the next steps to transform the Company", stated Frank Michalargias, Helix's CFO.
ACM Alpha Management Consulting Est. provided financial advisory services to Helix in connection with the private placement.
About Helix BioPharma Corp.
Helix BioPharma Corp. is a biopharmaceutical company specializing in the field of cancer therapy. The company is actively developing innovative products for the prevention and treatment of cancer based on its proprietary technologies. Helix's product development initiatives include its novel L-DOS47 new drug candidate. Helix is currently listed on the TSX and FSE under the symbol "HBP".
Forward-Looking Statements and Risks and Uncertainties
This news release may contain forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws, including, without limitation, those relating to Helix's operations and strategy, its research and development activities and statements regarding the expected use of net proceeds of the private placement. Forward-looking statements, which may be identified by words including, "without limitation", "believe, "subject to", "will", "should" "may", "expects", "intends", "anticipates" and other similar expressions, are intended to provide information about management's current plans and expectations.
Although Helix believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties that may cause actual results or events to differ materially from those anticipated and no assurance can be given that these expectations will be realized, and undue reliance should not be placed on such statements. Risk factors that could cause actual results or events to differ materially from the forward-looking statements include, without limitation, risks inherent in Helix's research and development activities and those risks and uncertainties affecting the company, as more fully described in Helix's most recent Annual Information Form, including under the headings "Forward-Looking Statements" and "Risk Factors", filed under Helix's profile on SEDAR at www.sedar.com (together, the "Helix Risk Factors"). Certain material factors or assumptions are applied in making the forward-looking statements, including, without limitation, that the factors described in the Helix Risk Factors will not cause Helix's actual results or events to differ materially from the forward-looking statements. These cautionary statements qualify all such forward-looking statements.