Entheon Biomedical Announces Non-Brokered Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - April 5, 2022) - Entheon Biomedical Corp. (CSE: ENBI) (OTCQB: ENTBF) (FSE: 1XU1) ("Entheon" or the "Company"), a biomedical company focused on the research and development of psychedelic drugs and leading-edge biomarkers to provide personalized treatment of addiction disorders, announces that it is proceeding on a non-brokered private placement financing of up to 30,000,000 Units (the "Units") at a price of CDN$0.10 per Unit for gross proceeds of up to CDN$3,000,000 (the "Placement").
Each Unit will consist of one common share in the capital of the Company (a "Share") and one transferable share purchase warrant (a "Warrant"). Each Warrant will be exercisable to acquire one additional Share for a period of 36 months from the date of issue at an exercise price of Cdn$0.15 per share in year one and Cdn$0.25 in years two and three.
The Company intends to use the proceeds from the Placement towards research and development activities and general working capital and corporate purposes. All securities issued under the Placement will be subject to a four-month and one-day hold period and the Company may pay finder's fees in accordance with the policies of the Canadian Securities Exchange.
About Entheon Biomedical Corp.
Entheon is a biotechnology research and development company committed to developing and commercializing a portfolio of safe and effective N,N-dimethyltryptamine based psychedelic therapeutic products ("DMT Products") for the purposes of treating addiction and substance use disorders. Entheon is comprised of three divisions, Entheon RX™, focused on the development of therapeutic drugs, using DMT as the pharmacological benchmark; Entheon ID™, focused on identification, analysis and predictive use of EEG biomarkers and genetics in the selection and management of drug treatment; and Entheon IQ™, focused on the development of treatment algorithms through the analysis of patient data. Subject to obtaining all requisite regulatory approvals and permits, Entheon intends to generate revenue through the sale of its DMT Products to physicians, clinics and licensed psychiatrists in the United States, certain countries in the European Union and throughout Canada.
For more information, please contact the Company at:
Entheon Biomedical Corp.
Joseph Cullen, Investor Relations
Telephone: +1 (778) 919-8615
Cautionary Note on Forward-Looking Information
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
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