IRW-PRESS: Sirona Biochem Corp.: Sirona Biochem Announces Successful Overseas Private Placement
Vancouver, British Columbia – July 10, 2019 – Sirona Biochem Corp. (TSX-V: SBM) (Frankfurt: ZSB) (Sirona) is pleased to announce today the closing of its oversubscribed private placement (the private placement) for gross proceeds of $ 1,500,000. The private placement includes 3,750,000 units (units) priced at $ 0.40 each.
Each unit consists of one common share and one transferable share purchase warrant. Each warrant may be exercised over a period of three years from the date of issue and redeemed for an additional $ 0.60 per common share of the Company. Warrants are subject to an early maturity clause.
All securities issued under the private placement are subject to a legal holding period until November 10, 2019.
Proceeds from the sale will be used to build an Asian production facility for the TFC-1067 and accelerate Sirona's anti-aging and anti-wrinkle projects.
No insider has participated in the private placement.
No brokerage commissions were paid as part of the private placement.
About Sirona Biochem Corp.
Sirona Biochem is a company specializing in the discovery of cosmetic ingredients and medicines and which has its own technological platform. Sirona specializes in the stabilization of carbohydrate molecules to improve efficiency and safety. New drug complexes are patented to maximize sales potential.
Sirona's compounds are licensed to leading companies around the world. In return, they agree to pay royalties, milestone fees (due to the fulfillment of the contract's objectives) and ongoing royalties. Sirona's TFChem laboratory is located in France, where it has received numerous scientific awards and various grants from the European Union and the French government. For more information, visit www.sironabiochem.com.
The TSX Venture Exchange and its regulators (referred to in the articles of the TSX Venture Exchange as Regulatory Service Providers) assume no responsibility for the adequacy or accuracy of this information. ad.
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Sirona Biochem stresses that statements in this press release that are not statements of historical fact may be forward-looking statements. Forward-looking statements are only forecasts that are based on current expectations and are subject to known and unknown risks and uncertainties. You should not place undue reliance on these forward-looking statements as they are only valid at the time of publication of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievements may differ materially from those expressed or implied by Sirona Biochem's forward-looking statements, because of the risks and uncertainties inherent in its business operations. These include statements about: progress and timing of its clinical trials; Difficulties or delays in the development, testing, obtaining regulatory approvals, production or marketing of its products; unexpected side effects or inefficiencies of its products that could delay or prevent the development or commercialization of the product; the extent and validity of patent protection for its products; competition from other pharmaceutical and biotechnology companies; and the ability to raise additional funds to support its operations. Sirona Biochem is under no obligation to update the forward-looking information, unless required by law.
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