Helix BioPharma Corp. (TSX:HBP) said it has closed a private placement financing for net proceeds of C$4,629,019.86 from the issuance of 25,716,777 common shares at a price of $0.18 each.
The company said it intends to use the net proceeds of the private placement for working capital and advancing its L-DOS47 drug development program.
“We would like to thank all investors for their strong support and confidence in Helix. We look forward to continued efforts toward this exciting program” said Artur Gabor, CEO of Helix in a statement.
The common shares issued under the private placement are subject to a statutory hold period of four months and one day ending on March 4, 2023, in accordance with applicable securities law.
In connection with the closing, the company will pay a cash fee of 10% of gross proceeds raised to an eligible finder.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, US persons absent registration or an applicable exemption from registration requirements.
Helix BioPharma is a clinical-stage biopharmaceutical company developing unique therapies in the field of immune-oncology for the prevention and treatment of cancer based on its proprietary technological platform DOS47.
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