Montreal, March 14, 2022 (GLOBE NEWSWIRE) — Sunshine Biopharma, Inc. (NASDAQ: “SBFM” and “SBFMW”) (“Company” or “Sunshine Biopharma”), Focusing on Research, Development, and Commercialization The pharmaceutical company Oncology and Antiviral Drugs have closed a previously announced private placement today in accordance with a securities purchase agreement signed with certain institutional and accredited investors on March 10, 2022.
In connection with the private placement, the Company will (i) issue 2,301,353 shares of common stock with the Investor Warrant (“Investor Warrant”) and purchase up to 2,301,353 shares of common stock, (ii) 1,302,251 shares. Pre-funded warrants (“pre-funded warrants”), each pre-funded warrant can be exercised against one share of common stock, and investor warrants can purchase up to 1,302,251 shares of common stock. Common stock and associated investor warrant shares are sold together for a total offer price of $ 2.22, and each pre-funded warrant and accompanying investor warrant is a total market priced under the Nasdaq rules. Sold together at an offer price of $ 2.219. ..
Pre-funded warrants can be exercised immediately at a nominal exercise price of $ 0.001 and can be exercised at any time until all pre-funded warrants have been fully exercised. The strike price of the investor warrant is $ 2.22 per share (subject to the adjustments stated in the warrant), is exerciseable at the time of issuance and expires five years from the date of issuance.
We received a total revenue of approximately $ 8 million before we deducted transaction-related costs payable by us.
Aegis Capital Corp. has acted as a dedicated placement agent in connection with this offering.
Additional details regarding the offering are available on Form 8-K, which we submit to the US Securities and Exchange Commission (“SEC”).
The above common and warrant shares are not amended and registered under the Securities Act of 1933 and are offered or sold in the United States unless registered with the US Securities and Exchange Commission (SEC) or have applicable exemptions. You can’t. Such registration requirements. Securities were offered only to accredited investors. In accordance with the registration rights agreement with the investor, we have agreed to submit to the SEC one or more registration statements covering the resale of common stock and shares that can be issued by exercising warrants.
This press release does not constitute an offer to sell or solicit a purchase, and these securities will be sold in states or other jurisdictions where such offer, solicitation or sale is illegal prior to registration. There is no such thing. Qualifications under securities law in such states or other jurisdictions.
About Sunshine Biopharma
Severe Acute Respiratory Syndrome-Coronavirus-2 (SARS-CoV-2) is an ongoing COVID-19 that has claimed the lives of more than 6 million people worldwide since its first appearance in December 2019. It is the causative agent of pandemics. Sunshine Biopharma is the development of a treatment for COVID-19, completing the synthesis of four potential inhibitors of PLpro and then identifying the lead compound SBFM-PL4. We are currently developing SBFM-PL4 in collaboration with the University of Georgia Faculty of Pharmaceutical Sciences. In addition, we recently signed a collaborative study with the University of Arizona aimed at assessing the efficacy of the University of Arizona’s three PLpro inhibitors in mice.
In addition, Sunshine Biopharma is working on the development of a unique anti-cancer compound, Adva-27a, to develop a treatment for COVID-19. Tests performed so far have demonstrated the effectiveness of Adva-27a in destroying multidrug-resistant cancer cells, including pancreatic cancer cells, small cell lung cancer cells, breast cancer cells, and uterine sarcoma cells. Clinical trials for pancreatic cancer indications will be conducted at McGill University’s Jewish General Hospital in Montreal, Canada. Sunshine Biopharma is the owner of all patents and intellectual property related to Adva-27a.
Precautions regarding forward-looking statements
This press release and the relevant management statements of the Company include “Statements on the Future Outlook” (Securities Act 1933 Section 27A and Securities Exchange Act 1934 Section 21E). Defined in). About future events. “May”, “Done”, “Expect”, “Plan”, “Intention”, “Plan”, “Believe”, “Predict”, “Expect”, “Expect”, Words such as “estimate” and their variation words and similar expressions are intended to identify forward-looking statements. These statements include known and unknown risks and are based on some assumptions and estimates, which are subject to materially significant uncertainties and contingencies, many of which are within our control. There is no such thing. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that may cause significant differences in actual results include, but are not limited to, the risk factors listed in our SEC filings. Our SEC filing is available free of charge from the SEC’s website (www.sec.gov). Except as required by law, we expressly disclaim any obligation or promise to publish any updates or amendments to our forward-looking statements contained in this document, and any changes, events or conditions in our expectations regarding it. Reflects the change in. Or the situation on which the statement is based.
Sunshine Biopharma Media Contact:
Direct phone: 917-633-8980
Sunshine Biopharma Inc. Contact:
Camille Sebaaly, CFO
Direct phone: 514-814-0464
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Sunshine Biopharma, Inc. has announced the closure of a $ 8 million private placement for the Canadian business journal market price.
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