VANCOUVER, July 10, 2019 /CNW/ - Sirona Biochem Corp.
(TSX-V: SBM) (Frankfurt: ZSB) ("Sirona") is very pleased to
announce today that it closed its private placement (Private
Placement") as oversubscribed for gross proceeds of $1,500,000 CAD. The Private Placement consists of
3,750,000 units, (the "Units") at a price of $0.40 per Unit. Each Unit consists of one
common share and one transferable share purchase warrant, each
whole warrant exercisable into one additional common share of the
Company for a period of 3 years from the date of issue at a price
of $0.60 per share subject to an
acceleration clause.
All securities issued under the Private Placement are subject to
statutory hold periods expiring on November
10, 2019.
Proceeds will be used to establish Asia-based manufacturing for TFC-1067 as well
as to accelerate Sirona's anti-ageing and anti-wrinkle
projects.
No insiders participated in the Private Placement.
No finders' fees were paid from the Private Placement.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery
company with a proprietary platform technology. Sirona specializes
in stabilizing carbohydrate molecules with the goal of improving
efficacy and safety. New compounds are patented for maximum revenue
potential.
Sirona's compounds are licensed to leading companies around the
world in return for licensing fees, milestone fees and ongoing
royalty payments. Sirona's laboratory, TFChem, is located in
France and is the recipient of
multiple French national scientific awards and European Union and
French government grants. For more information, please visit
www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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Sirona Biochem cautions you that statements included in this
press release that are not a description of historical facts may be
forward-looking statements. Forward-looking statements are only
predictions based upon current expectations and involve known and
unknown risks and uncertainties. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of release of the relevant information, unless
explicitly stated otherwise. Actual results, performance or
achievement could differ materially from those expressed in, or
implied by, Sirona Biochem's forward-looking statements due to the
risks and uncertainties inherent in Sirona Biochem's business
including, without limitation, statements about: the progress and
timing of its clinical trials; difficulties or delays in
development, testing, obtaining regulatory approval, producing and
marketing its products; unexpected adverse side effects or
inadequate therapeutic efficacy of its products that could delay or
prevent product development or commercialization; the scope and
validity of patent protection for its products; competition from
other pharmaceutical or biotechnology companies; and its ability to
obtain additional financing to support its operations. Sirona
Biochem does not assume any obligation to update any
forward-looking statements except as required by law.
SOURCE Sirona Biochem Corp.