Helix BioPharma Corp. Announces Extension of 2009 Warrant Expiry Date
August 23 2013 - 8:30AM
Marketwired
Helix BioPharma Corp. (TSX: HBP) (FRANKFURT: HBP), a
biopharmaceutical company developing drug candidates for the
prevention and treatment of cancer, today announced that it has
received conditional approval from the Toronto Stock Exchange to
extend the expiry date of the 2009 Warrants (as defined below) by
twelve months, from September 7, 2013 at 5:00 p.m. (Toronto time)
(the "
Current Expiry Date") to September 7,
2014 at 5:00 p.m. (Toronto time) (the "
Amended
Expiry Date"). Helix also proposes to increase the exercise
price for the 2009 Warrants from $2.87 to $3.51, effective from and
after the Current Expiry Date (together with the extension of the
expiry date, the "
Proposed Amendments").
Helix previously extended the term of the 2009 Warrants from
September 7, 2012 to March 7, 2013 and extended the term a second
time from March 7, 2013 to the Current Expiry Date. Helix does not
propose to amend any other provision of the 2009 Warrants, and none
of the 2009 Warrants is held directly or indirectly by an insider
of Helix.
Helix intends to provide a letter to the holders of the 2009
warrants outlining the terms of the Proposed Amendments and Helix
intends that the Proposed Amendments will only become effective in
respect of those 2009 Warrants for which the holder signs and
returns an acknowledgement, acceptance and request, which will be
appended to such letter, to Helix on or prior to the Current Expiry
Date, and that any 2009 Warrant in respect of which such
acknowledgement, acceptance and request is not received by Helix by
such time may expire in accordance with its current terms on the
Current Expiry Date.
The 2009 Warrants were issued as part of a private placement
completed by Helix on September 8, 2009, pursuant to which Helix
issued 6,625,000 units at a subscription price of $2.05 per unit.
Each unit consisted of one common share and one common share
purchase warrant (each a "2009 Warrant"),
with each 2009 Warrant common entitling the holder to purchase,
subject to adjustment, one common share at a price of $2.87 until
the Current Expiry Date. All of the 2009 Warrants remain issued and
outstanding.
The Proposed Amendments will be effective on the Current Expiry
Date, being more than 10 business days following the issuance of
this press release as required by the Toronto Stock Exchange's
Company Manual.
About Helix BioPharma Corp.
Helix BioPharma Corp. is a biopharmaceutical company
specializing in the field of cancer therapy. The company is
actively developing innovative products for the prevention and
treatment of cancer based on its proprietary technologies. Helix's
product development initiatives include its novel L-DOS47 new drug
candidate and its Topical Interferon Alpha- 2b. Helix is currently
listed on the TSX and FSE under the symbol "HBP".
Forward-Looking Statements and Risks and
Uncertainties This news release contains certain
forward-looking statements and information (collectively,
"forward-looking statements") within the meaning of applicable
Canadian securities laws, including, without limitation,
forward-looking statements regarding Helix's proposal to extend the
term of the 2009 Warrants, to increase the exercise price of such
warrants and that such extension and increase will apply only to
warrants in respect of which an acknowledgement, acceptance and
request has been received on or prior to the Current Expiry Date.
Forward-looking statements, which may be identified by words
including, without limitation, "will", "intends" and other similar
expressions, are intended to provide information about management's
current plans and expectations regarding future operations.
Although Helix believes that the expectations reflected in such
forward-looking statements are reasonable, such statements involve
risks and uncertainties that may cause actual results or events to
differ materially from those anticipated and no assurance can be
given that these expectations will be realized, and undue reliance
should not be placed on such statements. Risk factors that could
cause actual results or events to differ materially from the
forward-looking statements include, without limitation, the risk
that the approval of the Toronto Stock Exchange with respect to
either or both of the Proposed Amendments may not be received, and
certain of these risks and uncertainties, and others affecting the
company, are more fully described in Helix's Annual Information
Form, including under the headings "Forward-Looking Statements" and
"Risk Factors", filed with the Canadian Securities Administrators
at www.sedar.com (together, the "Helix Risk Factors"). Certain
material factors or assumptions are applied in making the
forward-looking statements, including, without limitation, the
Helix Risk Factors will not cause Helix's actual results or events
to differ materially from the forward-looking statements.
Forward-looking statements and information are based on the
beliefs, assumptions and expectations of Helix's management on the
date of this news release, and Helix does not assume any obligation
to update any forward-looking statement or information should those
beliefs, assumptions or expectations, or other circumstances
change, except as required by law.
Investor Relations: Helix BioPharma Corp. Tel: 905
841-2300 Email: ir@helixbiopharma.com
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