Bloom Burton & Co. Inc. Announces Holdings in Appili Therapeutics Inc.

Toronto, Ontario--(Newsfile Corp. - June 24, 2019) - Bloom Burton & Co. Inc. ("Bloom Burton") announces that it beneficially owns, directly and indirectly, 14,350,120 Class A common shares ("shares") and 2,200 broker warrants of Appili Therapeutics Inc. ("Appili") representing approximately 42.79% of the outstanding shares on a non-diluted basis and approximately 42.80% on a partially diluted basis. This press release is being issued pursuant to Canadian early warning requirements because of Appili becoming a reporting issuer and the subsequent acquisition by Bloom Burton of 454,120 shares upon the exercise of special warrants of Appili requiring the report of holdings over 10%.

On June 13, 2019, Appili filed a prospectus qualifying the distribution of 3,257,665 shares upon exercise of previously issued special warrants. Prior to the exercise of the special warrants, Bloom Burton beneficially owned, directly and indirectly, 13,896,000 shares, 2,200 broker warrants, and 117,648 special warrants representing approximately 45.89% of the outstanding shares on a non-diluted basis and 45.90% on a partially-diluted basis assuming exercise of the broker warrants (but not the special warrants). Upon the deemed exercise of all the special warrants, Bloom Burton beneficially owns, directly and indirectly, 14,350,120 Shares representing 42.79% of the outstanding shares on a non-diluted basis and 42.80% on a partially diluted basis.

The shares were acquired for investment purposes. Bloom Burton has a long-term view of the investment and may acquire additional securities including either on the open market or through private acquisitions or sell the securities including either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Appili is located at 415-1344 Summer St., Halifax, NS B3H 0A8. A copy of the early warning report with respect to the foregoing will appear on Appili's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and may also be obtained by calling Sonia Yung, General Counsel, Bloom Burton at (416) 640-7575.

Bloom Burton & Co. Inc.
65 Front St. E., Suite 300
Toronto, Ontario M5E 1B5

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45814