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Antibe Therapeutics Posts Final Closing of Its Non-Brokered Private Placement Bringing the Total Raise under the Offering to $1.25 Million

January 31, 2014

Antibe Therapeutics announced that it has completed the final closing (the "Final Closing") of its previously announced non- brokered private placement (the "Offering"), raising gross proceeds of $347,979 . According to a release, under the terms of the Final Closing, 632,689 units (the "Units") were sold at a price of $0.55 per Unit where each Unit is comprised of one Common Share of the Corp. and one-half of one Common Share purchase warrant ("Warrant") with each whole Warrant entitling the holder to purchase an additional Common Share ("Warrant Share") at a price of $0.80 per Warrant Share for a term of thirty-six (36) months following the date of issuance. An initial closing of the Offering was completed on December 30, 2013 wherein 1,635,354 Units were sold raising gross proceeds of $899,445 . The Final Closing brings the total gross proceeds raised under the Offering to $1,247,424 . Net proceeds from the Offering will be used for product development and for general corporate purposes. In connection with the Final Closing, Antibe has agreed to pay finder's fees in the amount of $28,298 in cash and 51,450 Common Share purchase warrants ("Finder's Warrants"), each of which will entitle the holder to purchase a Common Share at a price of $0.55 per share until January 28, 2016 . The securities issued under the Final Closing are subject to a four-month statutory hold period until May 29 . Antibe Therapeutics Inc. originates, develops and out-licenses patent-protected new pharmaceuticals. More Information: www.antibethera.com ((Comments on this story may be sent to newsdesk@closeupmedia.com ))


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Source: Health & Beauty Close - Up


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