HBP:CC - Helix Biopharma Corp. Announces Conclusion of Funding Agreement with Lind Global Macro Fund LP
(TheNewswire)
Toronto, Ontario – TheNewswire – August 30, 2022 – Helix BioPharma Corp. (TSX:HBP) (“Helix” or the “Company”), aclinical-stage biopharmaceutical company that is developing uniquetherapies in the field of immuno-oncology based on its proprietarytechnology platform DOS47, is pleased to announce that it hascompleted the buyback of the outstanding amount of the convertiblesecurity funding agreement (the “Agreement”) with Lind GlobalMacro Fund, LP, a New York based institutional investment fund managedby The Lind Partners, LLC (together, “Lind”).
The Company entered into the Agreement with Lind in May2021 and closed the first tranche under the Agreement for grossproceeds of $3,500,000 shortly thereafter (See Press Release dated May 132021 ).
The Company has now bought back the amount outstandingof the Convertible Security under the Agreement, which is C$2,061,875.
“Paying off our convertible security paired with arobust plan to reduce overheads, operating and general andadministrative expenses, gives Helix longevity to focus and execute onour strategy. We continue to be excited about our asset LDOS47 and itsjourney to bring new and potentially life changing therapies topatients suffering with cancers.” commented Artur Gabor, CEO ofHelix.
Helix BioPharma Corp. is a clinical-stagebiopharmaceutical company developing unique therapies in the field ofimmune-oncology for the prevention and treatment of cancer, based onthe proprietary technology platform DOS47. Helix is listed on the TSXunder the symbol “HBP.”
About The Lind Partners
The Lind Partners is an institutional fund manager andleading provider of growth capital to small- and mid-cap companiespublicly traded in the US, Canada, Australia and the UK. Lind makesdirect investments ranging from US$1 to US$30 million, invests insyndicated equity offerings and selectively buys on market. Lind hascompleted more than 100 direct investments totalling over US$1 Billionin value and has been a flexible and supportive capital partner toinvestee companies since 2011.
For more information, please contact:
Helix BioPharma Corp.
Suite 2704, 401 Bay Street Toronto, Ontario, M5H 2Y4
Tel: 905-841-2300
Namrata Malhotra, CorporateSecretary
Forward-LookingStatements and Risks and Uncertainties
This news release containsforward-looking statements and information (collectively,“forward-looking statements”) within the meaning of applicableCanadian securities laws. Forward-looking statements are statementsand information that are not historical facts but instead includefinancial projections and estimates, statements regarding plans,goals, objectives, intentions and expectations with respect to theCompany’s future business, operations, research and development,including the Company’s activities relating to DOS47, and statementsregarding expected improvements to the Company’s independence,diversification and corporate governance and the Company’sexpectations regarding strengthening its future growth capabilities.Forward-looking statements can further be identified by the use offorward-looking terminology such as “ongoing”, “estimates”,“expects”, or the negative thereof or any other variations thereonor comparable terminology referring to future events or results, or that events or conditions“will”, “may”, “could”, or “should” occur or beachieved, or comparable terminology referring to future events orresults.
Forward-looking statements arestatements about the future and are inherently uncertain and arenecessarily based upon a number of estimates and assumptions that arealso uncertain. Although the Company believes that the expectationsreflected in such forward- looking statements are reasonable, suchstatements involve risks and uncertainties, and undue reliance shouldnot be placed on such statements. Forward-looking statements,including financial outlooks, are intended to provide informationabout management’s current plans and expectations regarding futureoperations, including without limitation, future financingrequirements, and may not be appropriate for other purposes. Certainmaterial factors, estimates or assumptions have been applied in makingforward-looking statements in this news release.
The Company’s actual results coulddiffer materially from those anticipated in the forward-lookingstatements contained in this news release as a result of numerousknown and unknown risks and uncertainties, including withoutlimitation; the risk that the Company’s assumptions may prove to beincorrect; the risk that additional financing may not be obtainable ina timely manner, or at all, and that clinical trials may not commenceor complete within anticipated timelines or the anticipated budget ormay fail; third party suppliers of necessary services or of drugproduct and other materials may fail to perform or be unwilling orunable to supply the Company, which could cause delay or cancellationof the Company’s research and development activities; necessaryregulatory approvals may not be granted or may be withdrawn; theCompany may not be able to secure necessary strategic partner support;general economic conditions, intellectual property and insurancerisks; changes in business strategy or plans; and other risks anduncertainties referred to elsewhere in this news release, any of whichcould cause actual results to vary materially from current results orthe Company’s anticipated future results. Certain of these risks anduncertainties, and others affecting the Company, are more fullydescribed in the Company’s annual management’s discussion andanalysis for the year ended July 31, 2021 under the heading “Risksand Uncertainties” and Helix’s Annual Information Form, inparticular under the headings “Forward-looking Statements” and“Risk Factors”, and other reports filed under the Company’sprofile on SEDAR at www.sedar.com from time to time. Forward-looking statements and information arebased on the beliefs, assumptions, opinions and expectations ofHelix’s management on the date of this new release, and the Companydoes not assume any obligation to update any forward-looking statementor information should those beliefs, assumptions, opinions orexpectations, or other circumstances change, except as required bylaw.
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