TORONTO, ONTARIO – (June 10, 2016) – Antibe Therapeutics Inc. (“Antibe” or the “Corporation”) (TSXV: ATE, OTCQX: ATBPF) closed the first tranche of a non-brokered private placement of units, raising gross proceeds of $968,500 (the “Offering”). Under the terms of the Offering, 9,685,000 units (the “Units”) were sold at a price of $0.10 per Unit, each Unit comprised of one Common Share of the Corporation 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 $0.15 per Warrant Share until June 10, 2018.

Net proceeds from the Offering will be used for product development and for general corporate purposes. Certain insiders of the Company, including the Chair of the Board and several senior officers, subscribed for an aggregate of 1,150,000 common shares under the Offering for aggregate cash consideration of $115,000.

The securities issued are subject to a four-month statutory hold period and a TSX Venture Exchange hold period, each expiring on October 11, 2016. Antibe may complete a further closing of this non-brokered private placement to bring total proceeds to a maximum offering amount of $1,500,000 on or before June 27, 2016, subject to TSXV approval.

In connection with the private placement, Antibe has agreed to pay finder’s fees in the amount of $31,800 in cash and 318,000 Common Share purchase warrants (“Finder’s Warrants”) to Caldwell Securities, Dundee Goodman Private Wealth, Echelon Wealth Partners, EMD Financial, First Republic Capital and Leede Jones Gable. Each Finder’s Warrant will entitle the holder to purchase one Common Share at a price of $0.15 per share until June 10, 2018.

In addition, the Company has granted BND Projects Inc. options to acquire up to 12,000 common shares as compensation for the performance of investor relations services. The options have an exercise price of $0.13 per common share, vest quarterly in equal amounts starting on the date of the grant, and will expire June 10, 2019.

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 participation of insiders in the Offering constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and the policies of the TSX Venture Exchange. The Company is relying on the exemptions from the formal valuation and minority approval requirements contained in sections 5.5(b) and 5.7(a) of MI 61-101.

This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States or any other jurisdiction in which such an offer or solicitation is unlawful. The securities have not been and will not be registered under the United Sates Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state laws. No public offering of securities will be made in the United States.

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 drug for chronic pain and inflammation. ATB-352, the second drug in Antibe’s pipeline, targets the urgent global need for a safer, non-addictive analgesic for treating severe acute pain, while ATB-340 is a GI-safe derivative of aspirin.

Antibe’s subsidiary, Citagenix Inc. (“Citagenix”), is a leader in the sales and marketing of tissue regenerative products servicing the orthopedic and dental marketplaces. Since its inception in 1997, Citagenix has become an important source of knowledge and experience for bone regeneration in the Canadian medical device industry. Citagenix is active in 15 countries, operating in Canada through its direct sales teams, and internationally via a network of distributor partnerships.

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.

Forward-Looking Information

This news release includes certain forward-looking statements, which may include, but are not limited to, the completion of further closings of the Offering, 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, failure to obtain TSX Venture Exchange approval for the transactions described herein, its ability to conclude partnering or other relationships with pharmaceutical companies, 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 Information

Antibe Therapeutics Inc.
Dan Legault
Chief Executive Officer
Tel: +1 416-473-4095

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