Burnaby, British Columbia--(Newsfile Corp. - December 23, 2022) - Advanced Proteome Therapeutics Corporation (TSXV: APC) (FSE: 0E81) ("APC" or the "Company") is pleased to announce that, subject to the approval of the TSX Venture Exchange, it has closed a non-brokered private placement (the "Private Placement" or the "Offering") raising gross proceeds of $72,500.00 by the issuance of 1,450,000 shares at a price of $0.05 per share.
There were no finders' fees paid in connection with the Private Placement.
The shares issued under the Offering will be subject to restrictions on resale expiring on April 24, 2023.
The gross proceeds of the Private Placement will be used for general working capital.
The participation by Conation Capital Corp. in an amount of $72,500 constitutes a "related party transaction" pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Section 5.5(a) and Section 5.7(1)(a) of MI 61-101, respectively, on the basis that neither the fair market value of shares issued pursuant to the Private Placement, nor the consideration paid for such shares (each insofar as it involves interested parties), exceeds 25% of the Company's market capitalization.
The Company confirms that there is no material fact or material change about the Company that has not already been generally disclosed.
ABOUT THE COMPANY:
Advanced Proteome Therapeutics Corporation, through its subsidiary, Advanced Proteome Therapeutics Inc., is developing a proprietary technology to directly target cancerous tumors and avoid destroying normal cells. This type of agent is capable of greater potency, higher specificity, and lower toxicity than other therapies that can also attack healthy cells. Advanced Proteome is working to streamline the process by which these agents are prepared, which to date, has been extremely cumbersome, limiting their potential. www.advancedproteome.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Advanced Proteome Therapeutics
Corporation Paul Woodward
President and CEO
Tel: 604.690.3797
http://www.advancedproteome.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.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
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