TORONTO, CANADA — (June 15, 2022) – Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF) (the “Company”), a clinical stage company leveraging its hydrogen sulfide platform to develop next-generation safer therapies that target inflammation, announces that it is extending the expiry date (the “Warrant Extension”) and amending the exercise price (the “Amended Exercise Price”) of 3,117,957 common share purchase warrants (“Warrants”) of the Company.
Warrant Extension and Amendment
The Warrants, pursuant to the Warrant Extension, will expire on December 31, 2023 and, pursuant to the Amended Exercise Price, be exercisable into a common share of the Company at $1.80 per common share, as depicted in the table below:
|Issue Date||Number of Warrants||Issued Exercise Price||Amended Exercise Price||Original Expiry Date||Amended Expiry Date||Effective Date|
|June 30, 2020||2,373,401||$6.00||$1.80||June 30, 2022||December 31, 2023||June 30, 2022|
|August 13, 2019||744,556||$4.00||$1.80||August 13, 2022||December 31, 2023||June 30, 2022|
None of the Warrants are held by insiders of the Company.
The Toronto Stock Exchange has provided conditional approval for the Warrant Extension and Amended Exercise Price with an effective date for the amendments of June 30, 2022.
About Antibe Therapeutics Inc.
Antibe is a clinical stage biotechnology company leveraging its proprietary hydrogen sulfide platform to develop next-generation safer therapies that target inflammation arising from a wide range of medical conditions. The company’s current pipeline includes assets that seek to overcome the gastrointestinal (“GI”) ulcers and bleeding associated with nonsteroidal anti-inflammatory drugs (“NSAIDs”). Antibe’s lead drug, otenaproxesul, is in clinical development as a safer alternative to opioids and today’s NSAIDs for post-operative pain. Antibe’s second pipeline drug, ATB-352, is being developed for a specialized acute pain indication. The company’s anticipated next target is inflammatory bowel disease (“IBD”), a condition long in need of safer, more effective therapies. Learn more at antibethera.com.
This press release contains forward-looking statements identified by words such as “expects”, “will” and similar expressions, which reflect the Company’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties that could cause the Company’s actual events to differ materially from those projected herein. Investors should consult the Company’s ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements, except as required by law.
For further information please contact:
Antibe Therapeutics Inc.
VP Investor Relations
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