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TORONTO, ONTARIO – (August 22, 2013) – Antibe Therapeutics Inc. (“Antibe” or the “Corporation”) (TSX VENTURE: ATE) is pleased to announce that on August 22, 2013 it completed its third and final closing (the “Final Closing”) under its initial public offering prospectus (the “Prospectus”), raising gross proceeds of $269,799.75 and issuing 490,545 common shares at a price of $0.55 per common share (the “Offering Price”). As previously announced: (i) on June 18, 2013 Antibe completed its first closing under the Prospectus raising gross proceeds of $2,127,400 and completed a contemporaneous private placement raising $155,100; and (ii) on August 14, 2013, and completed its second closing under the Prospectus, raising gross proceeds of $602,800. With the Final Closing Antibe has achieved the maximum offering of $3,000,000 under the Prospectus and accordingly distribution under the Prospectus has ceased.
Burgeonvest Bick Securities Limited (“BBSL”) acted as the lead agent and sole bookrunner for a syndicate of agents, which included Euro Pacific Canada Inc. (together with BBSL, the “Agents”). The Agents appointed a soliciting dealer group of other registered dealers, including Bloom Burton and Co. Inc. Pursuant to the Final Closing, the Agents received a commission of $26,979.98 and an aggregate of 49,054 options (each, an “Agent’s Option”), with each Agent’s Option entitling the holder to purchase one common share, at the Offering Price, for a period of 24 months from the Final Closing.
The Offering is made only by prospectus. The Prospectus contains important detailed information about the securities being offered. Copies of the final Prospectus can be obtained from Burgeonvest Bick Securities Limited, attention: Ms. Vilma Jones, Managing Director, Head of Capital Markets, Syndication, telephone (647) 347-4488. Investors should read the Prospectus before making an investment decision.
An electronic copy of the final Prospectus filed in connection with the Offering is available on SEDAR at www.sedar.com.
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 drug for chronic pain and inflammation. ATB-352, the second drug in Antibe’s pipeline, targets the urgent global need for a safer, 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
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.
Forward-Looking Information
This news release includes certain forward-looking statements, which may include, but are not limited to, the growth of product sales, engaging new distributors and independent representatives, the completion of financing transactions and the licensing and development of drugs and medical devices. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “will”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “propose” and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the Company’s ability to secure additional financing, its inability to execute its business strategy and successfully compete in the market, and risks associated with drug and medical device development generally. Antibe Therapeutics Inc. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.
Contact Information
Antibe Therapeutics Inc.
Dan Legault
Chief Executive Officer
Tel: +1 416-473-4095
dan.legault@antibethera.com
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