TORONTO, CANADA — (December 19, 2018) – Antibe Therapeutics Inc. (“Antibe” or the “Company”) (TSXV: ATE, OTCQB: ATBPF), a leader in developing safer therapeutics for pain and inflammation, today announced that it has received gross proceeds of $1.6 million from the exercise of warrants. A total of 7,066,001 warrants were exercised at a price of $0.22 with expiries on December 15th and 21st, 2018. Nearly all of the warrants expiring in December 2018 were exercised.
Dan Legault, CEO of Antibe, commented, “The exercising of these warrants shows continued confidence by our investors in Antibe’s drug development programs. Furthermore, the gross proceeds together with cash-on-hand fund the balance of our upcoming Phase 2B clinical trial for ATB-346, expected to start in Q1 2019 with results anticipated in Q2 2019.”
In addition, the Company has granted BND Projects Inc. 18,000 options for investor relations services. Each option has an exercise price of $0.245, being the 5-day volume weighted average price of Antibe’s shares, vests quarterly starting on the date of the grant, and will expire December 19, 2021.
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, non-addictive drug for chronic pain and inflammation. ATB-352, the second drug in Antibe’s pipeline, targets the urgent global need for a non-addictive analgesic for treating severe acute pain, while ATB-340 is a gastrointestinal-safe derivative of aspirin. Citagenix Inc., an Antibe subsidiary, is a market leader and worldwide distributor of regenerative medicine products for the dental marketplace. www.antibethera.com
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Forward-Looking InformationThis 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 InformationAntibe Therapeutics Inc.
Chief Executive Officer
Tel: +1 416-473-4095