BioMmune Technologies Inc. is pleased to announce that it has closed its non-brokered private placement announced on May 3rd, 2015. The Company has issued 5,000,000 units (each a “Unit”) at a price of CDN$0.20 per unit, for gross proceeds of CDN$1,000,000. Each Unit consists of one common share and one full common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the Company at a price of CDN$0.30 per share for a period of eighteen months up to and including December 8th, 2016,, subject to an exercise acceleration clause. Under the exercise acceleration clause, which the Company may exercise once the Units are free of resale restrictions and if the Company’s shares are trading at or above a volume weighted average price of $0.50 for 10 consecutive trading days, the Warrants will expire upon 30 days from the date the Company provides notice in writing to the Warrant holders via a news release. A cash finder’s fees of CDN$70,400 was paid on a portion of the financing. All securities issued are subject to a hold period of four (4) months and one day and as such may not be traded until October 9th, 2015. The net proceeds from the sale of units have been added to working capital in furtherance of the Company’s business.
BioMmune Technologies Inc. is a biopharmaceutical company headquartered in Vancouver, Canada. BioMmune is developing three technologies discovered at The University of British Columbia. They include, discovery of compounds that will be active in restoring immune-recognition of cancer cells resulting in the body’s immune system to fight the cancer cells. A discovery relating to Channels, whose activities regulate activity of cells involved in the immune system to improve their ability to combat cancers, infections and also autoimmunities. Furthermore, the company is pursuing the modulation of CD74, a protein involved in the immune system and its ability to fight foreign antigens. Finding ways or compounds that regulate its activity will improve the immune system to combat infections, cancers and autoimmune diseases. BioMmune trades on the TSX Venture Exchange under the symbol “IMU”.
On Behalf of the Board of Directors
Dr. Reinhard Gabathuler, President
BioMmune Technologies Inc.
Dr. Reinhard Gabathuler
1 (514) 963-6177