asenio making big deal of warrants and coming dilution we heb longs need to remember what the money from those warrants was used for, that money put us in the great position we are in now so close to fda approval
Subject: helix 7/2/96
VANCOUVER, British Columbia--(BUSINESS WIRE)--June 20, 1996-- HELIX BIOPHARMA
CORP. (TSE, VSE: HBP) Helix BioPharma is pleased to announce that it has
closed its private placement of 2,500,000 Special Warrants at $2.00 per
warrant for gross proceeds of $5 million.
The net proceeds of the offering will be used for general working capital,
including but not limited to: the registration, marketing and acquisition of
pharmaceutical products, the development of Ampligen, a product which may be
effective in treating patients suffering from Chronic Fatigue Syndrome, and
the development of Helix BioPharma's anti-infective technology, which will be
tested against oral and vaginal yeast infections.
Each Special Warrant entitles the holder to obtain one common share of the
Company at no additional cost. The Company will receive 50 percent of the
net proceeds of the Special Warrant placement upon the filing of a
Preliminary Prospectus with the Securities Commissions of B.C., Manitoba and
Ontario. The remaining 50 percent of the net proceeds of the issue will be
released to the Company once receipts have been issued for the Final
Prospectus by all of the Securities Commissions. Should the Company fail to
file a Preliminary Prospectus before August 14, 1996, the Special Warrants
will be deemed to be cancelled and all proceeds of the placement will be
returned to the placees.
In the event that receipts are not issued by the Securities Commissions for
the Company's Final Prospectus on or before September 30, 1996, then each
Special Warrant will be convertible into 1.1 common shares of the Company.
The Special Warrants and the common shares of the company issuable on the
exercise of the Special Warrants are subject to a hold period expiring June
18, 1997 unless earlier qualified by the prospectus.
The Agents for the placement, Wallace Dewan & Partners Inc. and Griffiths
McBurney & Partners of Toronto, have received a cash fee of 6 percent of the
gross proceeds, plus 250,000 special compensation warrants each entitling
the Agents to purchase, until June 18, 1998, one common share of the Company
at a price of $2.06 per share.
ON BEHALF OF THE BOARD
Terrance G. Owen, Ph.D., M.B.A., President -0-
Note to Editor: The Vancouver Stock Exchange has not reviewed and does not
accept responsibility for the adequacy of the content of the information
contained herein.
and......
PHILADELPHIA, July 5 /PRNewswire/ -- Hemispherx Biopharma Inc. (Nasdaq:
HEMXU) announced today that it had closed a $6 million financing with a
single institutional investor in the form of a newly issued Series D
Convertible Preferred Stock. The terms of the preferred stock call for the
issuance of the Company's common stock upon conversion at prices to be
determined at the time of conversion.
The proceeds from the private placement will be used as additional working
capital, especially to expand drug inventory of the company's lead product,
Ampligen(R), which is being developed for the treatment of various chronic
viral diseases and immune disorders, including Chronic Fatigue and Immune
Dysfunction Syndrome ("CFIDS").
Recent data from the governmental agency, Centers for Disease Control ("CDC")
and an independent report from Harvard University, now suggest that between
500,000 to 2,500,000 Americans may presently suffer from CFIDS. As a result
of nationwide epidemiologic surveys, the CDC moved CFIDS to its list of "top
priority new and reemerging infectious diseases" in May 1996. Diseases on
this CDC list of high priority also include tuberculosis, lyme disease as
well as various other dreaded infectious diseases generally associated with
profound severity, debilitation and/or death for which there may be no
adequate medical treatment.
At present, Hemispherx sources all of its drug raw materials from either
Pharmacia/Upjohn utilizing their facility based in Milwaukee, Wis., or from
South African Breweries, Ltd. ("SAB")/Bioclones Proprietary, utilizing
facilities based in Capetown, South Africa. Pharmacia/Upjohn holds a minority
equity position in Hemispherx and SAB/Bioclones is a Hemispherx licensee for
certain non-North American territories including, principally, the Southern
hemisphere regions. Hemispherx is a 24.9% equity holder in the Capetown
manufacturing facility. At present, all drug product undergoes release
testing, the final step preparatory to building drug inventory for clinical
testing and/or commercial sales, at the Hemispherx facility in Rockville, Md.
Hemispherx holds a patent position consisting of more than 200 issued patents
which, together with approximately 200 additional patent applications under
development, form the global core of the Company's proprietary technology
estate. In different regions of the world, the company and its partners are
actively developing the patented drug technology for various other disease
indications including hepatitis B, hepatitis C and HIV diseases.
CO: Hemispherx Biopharma Inc.
ST: Pennsylvania
IN: MTC
SU:
07/05/96 08:00 EDT
|
