VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 19, 2013) -
Sirona Biochem Corp. (TSX VENTURE:SBM) (OTCQX:SRBCF)
(FRANKFURT:ZSB), (the "Company") is
pleased to announce that it has closed its private placement in the
amount of 9,748,834 units at $0.12 per unit for total gross
proceeds of $1,169,860. Each unit consists of one common share and
one transferable share purchase warrant, each warrant exercisable
into one additional common share of the Company for a period of two
years from the date of issue at a price of $0.16 per share.
"This is a tremendous outcome for Sirona Biochem and
demonstrates the ongoing support of our shareholders as we continue
the development of our technology portfolio," said Chief Executive
Officer Neil Belenkie. "This successful equity financing allows us
to focus on monetization of our core assets while advancing the
technology pipeline."
The Company would like to acknowledge the participation of the
Bloom Burton Canadian Healthcare Fund LP in this financing.
The Company paid a total of $36,652.80 in cash and issued a
total of 305,440 share purchase warrants to finders in connection
with the placement. Each finder's warrant is exercisable into one
common share of the Company for a period of two years at a price of
$0.16 per share.
All securities issued under the placement are subject to
statutory hold periods expiring on January 19, 2014.
Proceeds of the placement will be used for general working
capital.
About Sirona Biochem Corp.
Sirona Biochem is not a traditional biotech company. Sirona is a
product-pipeline company with a proprietary technology platform
developed at its laboratory facility in France. The company
specializes in the stabilization of carbohydrate molecules, with
the goal of improving compounds' efficacy and safety. Sirona
Biochem's compounds are being developed for both pharmaceutical and
cosmetic marketplaces and are patented as new chemical entities for
maximum commercial protection and revenue potential. TFChem, Sirona
Biochem's wholly-owned French laboratory is a recipient of multiple
French national scientific awards and a European Union and French
government grant. For more information 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.
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.
