Antibe Therapeutics Announces Payment in Kind Election
Jan 27, 2016
OTC Disclosure News Service
Antibe Therapeutics Inc. (“Antibe” or the “Company”) (TSXV:ATE,
OTCQX:ATBPF) announces it has elected to pay in kind all interest due
January 15, 2016 under the Company’s 10% senior secured convertible
debentures due October 15, 2018 (the “Debentures”). The Debentures
provide that Antibe may, at its sole option, elect to pay in kind
certain interest payments.
The aggregate January 15, 2016 interest payment under the Debentures in
the amount of $62,013.70 has been added to the principal amount of the
Debentures (the “Added Principal Amount”). The holders of Debentures may
convert the principal amount of each Debenture into Antibe common shares
at a price of $0.22 per common share. As a result of the addition of the
Added Principal Amount to the principal amount of the Debentures, an
additional 281,867 common shares in the capital of Antibe will be
issuable on the conversion of the principal amount of the Debentures.
The in kind election is subject to TSX Venture Exchange approval.
About Antibe Therapeutics Inc.
Antibe develops safer medicines for pain and inflammation. Antibe’s
technology involves linking a hydrogen sulfide-releasing molecule to an
existing drug to produce a patented, improved medicine. Antibe’s lead
drug ATB-346 targets the global need for a safer non-steroidal
anti-inflammatory drug (NSAID) for chronic pain and inflammation.
ATB-352, the second drug in Antibe’s pipeline, targets the urgent global
need for a safer analgesic for treating severe acute pain, while ATB-340
is a GI-safe derivative of aspirin. www.antibethera.com.
Antibe’s subsidiary, Citagenix Inc., is a leader in the sales and
marketing of tissue regenerative products servicing the orthopedic and
dental marketplaces. Since its inception in 1997, Citagenix has become
the largest source of knowledge and experience in the Canadian medical
device industry. Citagenix Inc. is active in 15 countries, operating in
Canada through its direct sales teams, and internationally via a network
of distributor partnerships. www.citagenix.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) and no stock exchange, securities commission or other
regulatory authority accepts responsibility for the adequacy or accuracy
of this release nor approved or disapproved of the information contained
This news release includes certain forward-looking statements, which may
include, but are not limited to, the completion of the payment-in-kind
election and the development of ATB-346 and other drugs. Any statements
contained herein that are not statements of historical facts may be
deemed to be forward-looking, including those identified by the
expressions “will”, “anticipate”, “believe”, “plan”, “estimate”,
“expect”, “intend”, “propose” and similar expressions. Forward-looking
statements involve known and unknown risks and uncertainties that could
cause actual results, performance, or achievements to differ materially
from those expressed or implied in this news release. Factors that could
cause actual results to differ materially from those anticipated in this
news release include, but are not limited to, failure to satisfy closing
conditions for the private placement, not obtaining future financing on
adequate terms, or at all, failure to obtain TSX Venture Exchange
approval for the transactions described herein, and risks associated
with drug development generally. Antibe Therapeutics Inc. assumes no
obligation to update the forward-looking statements or to update the
reasons why actual results could differ from those reflected in the
forward-looking statements except as required by applicable law.
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