Advanced Proteome Therapeutics Corporation
TSX VENTURE : APC
FRANKFURT : 0E8

Advanced Proteome Therapeutics Corporation

June 01, 2017 08:30 ET

Advanced Proteome Therapeutics Corporation Announces Rights Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 1, 2017) - Advanced Proteome Therapeutics Corporation ("APC" or the "Company") (TSX VENTURE:APC)(FRANKFURT:0E8) is pleased to announce that it will conduct a rights offering to raise gross proceeds of up to $1,900,281 (the "Rights Offering").

Under the Rights Offering, the Company will be offering transferable rights (the "Rights") to holders of its common shares (the "Common Shares") resident in Canada at the close of business on June 7, 2017 (the "Record Date"), on the basis of one Right for each Common Share held. Four Rights will entitle the holder to subscribe for one unit of the Company (a "Unit") at a subscription price of $0.06 per Unit, which represents a discount to the closing price of the Common Shares on the TSX Venture Exchange (the "Exchange") on May 31, 2017. No fractional Units will be issued. Each Unit will consist of one Common Share and one-half of one common share purchase warrant, with each whole warrant exercisable into one Common Share for a period of 12 months following the closing of the Rights Offering (the "Closing Date") at a price of $0.10 per Common Share. The Rights will expire at 5:00 p.m. (Toronto time) on July 5, 2017 (the "Expiry Time"), after which time unexercised Rights will be void and of no value. Shareholders who fully exercise their Rights will be entitled to subscribe for additional Units, if available as a result of unexercised Rights prior to the Expiry Time, subject to certain limitations set out in the rights offering circular in respect of the Rights Offering (the "Circular").

Details of the Rights Offering

Details of the Rights Offering will be set out in the rights offering notice (the "Notice") and Circular which will be available under APC's profile on SEDAR at www.sedar.com. The Notice and accompanying rights certificate (the "Rights Certificates") will be mailed to each eligible shareholder of the Company as at the Record Date. Registered shareholders who wish to exercise their Rights must forward the completed Rights Certificates, together with the applicable funds, to the rights agent, Computershare Investor Services Inc., on or before the Expiry Time. Shareholders who own their Common Shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary. Rights delivered to brokers, dealers or other intermediaries will not be delivered by those intermediaries to beneficial shareholders who are residents in a jurisdiction outside of Canada.

The Company currently has 126,685,418 Common Shares outstanding. Assuming all the Rights issued under the Rights Offering are validly exercised, the Rights Offering will raise gross proceeds of approximately $1,900,281, the net proceeds of which will be used for debt repayment as well as working capital.

The Closing Date is expected to occur on or about July 10, 2017.

Any person who will own or control (beneficially or as nominee) more than 10 percent of the outstanding common shares of APC at closing of the Rights Offering must file a Personal Information Form ("PIF") with the Exchange and the Rights Offering will only close in escrow with respect of such person until the Exchange has notified the Company that the results of the review of the relevant PIFs are satisfactory.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States 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 State3s or to, or for the account of benefit of, "U.S. persons", as such term is defined in Regulation S under the U.S. Securities Act, unless an exemption from such registration is available.

About APC

Advanced Proteome Therapeutics Corporation (APC) is advancing a site-specific protein modification technology platform to enable the development of superior protein therapeutics. Using this technology, APC has generated numerous and diverse modifications of annexin proteins with superior binding and stability properties, which are amenable to further labeling and conjugation for use in therapeutic applications. APC is now vigorously applying its technologies to achieve the site-specific labeling of therapeutic antibodies and provide the next generation of antibody-drug conjugates.

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.

This communication contains certain forward-looking statements relating to the Company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "will", "should", "future", "potential" or similar expressions or by a general discussion of the Company's strategies, plans or intentions. In particular, this news release contains forward-looking statements including, but not limited to, statements regarding the timing of, and other procedural matters associated with, the Rights Offering, and the use of proceeds from the Rights Offering. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results of operations, financial position, earnings, achievements, or industry results, to be materially different from any future results, earnings or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward-looking statements to reflect future events or developments.

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