Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Procyon Biopharma Inc. -- Ignore unavailable to you. Want to Upgrade?

To: thebeach who wrote (281)	7/26/2000 12:53:02 PM
From: thebeach	Read Replies (1) \| Respond to of 356

Wednesday July 26, 10:01 am Eastern Time Company Press Release Procyon BioPharma Inc.: $20.4 Million Private Placement, Securities and Regulatory Authorities Issue Receipt of Final Prospectus From Procyon BioPharma MONTREAL, QUEBEC--Procyon BioPharma Inc. (``Procyon'') announced today the issuance of a receipt dated July 24, 2000, in British Columbia, Alberta, Ontario and Quebec for a final prospectus relating to the distribution of 7,789,560 common shares and 3,894,780 common share purchase warrants. The common shares and purchase warrants will be issued in exchange for 7,780,560 special warrants which were previously issued in a $20.4 million private placement which was completed on April 11, 2000, and was led by Research Capital Corporation. The obtaining of a receipt for its final prospectus means that, on July 31, 2000, Procyon will be paid the 75 % of the gross proceeds of the private placement which were placed in escrow pending the issuance of the receipt. Proceeds from the offering will be used for the development of Procyon's core technologies, the potential acquisition of new technologies and working capital. In making the announcement, Hans J. Mader, President and CEO of Procyon, said, ``We are very pleased that this major financial step has been completed. The successful completion of this transaction will provide Procyon with a solid financial foundation.'' Procyon BioPharma Inc. is a publicly listed, biopharmaceutical company focused principally on advancing two powerful platform technologies that have the potential to diagnose and treat cancer. Procyon's Antinuclear Autoantibodies (ANAs) bind specifically to multiple cancer cell types strongly enhancing the immune response to cancer cells. Prostate Secretory Protein (PSP(94)) is a naturally occurring human protein that has the potential to treat prostate cancer by inhibiting abnormal prostate cell growth. In addition, the estimation of PSP(94) levels in prostate cancer patients may have prognostic and diagnostic applications. Procyon also has two late-stage products: FIBROSTAT(TM), a topical cream for the management of newly formed scars following surgery or burns and COLOPATH(TM), a rapid, non-invasive screening test for colorectal cancer. Procyon's shares trade on the CDNX under the ticker symbol, PBP. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Contact: Procyon BioPharma Inc. Hans J. Mader President and CEO (514) 685-9283 Email: hmader@procyonbiopharma.com Web site: www.procyonbiopharma.com or NATIONAL Public Relations Nathalie Bourque (514) 843-2309