U.S. Life Sciences I-Bank Moody Capital Leads Sirona Biochem’s US$2.7 Million Placement
Feb 22, 2013
OTC Disclosure News Service
Vancouver, BC, Canada
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Vancouver, British Columbia – February 22, 2013 – Sirona Biochem Corp. (TSX-V: SBM, OTCQX:
SRBCF, Frankfurt: ZSB), (the “Company”) announced today a non-brokered private
placement of up to 27,000,000 units of the Company at a price of US$0.10 per
unit (each a “Unit”) for gross
proceeds of up to US$2,700,000 (the “Private
Placement”) led by U.S. Life Sciences Investor Moody Capital Solutions,
“Strong science coupled with
attractive unmet markets makes Sirona Biochem an excellent investment for us,”
said Tim Moody, President and Founder of Moody Capital. “We are impressed with
Sirona Biochem’s scientific programs and are confident in the commercial
potential of their compounds,” added Mr. Moody.
“Moody Capital has provided
funding for a number of successful life sciences companies and their support is
a testament to the value of our programs and technology platform,” said Sirona
Biochem Chief Executive Officer, Neil Belenkie. “We are thrilled by Moody
Capital’s enthusiasm for our technology and vision,” Mr. Belenkie added.
Each Unit will consist of one
common share of the Company (a “Share”)
and one transferable share purchase warrant (a “Warrant”). Each Warrant will
entitle the holder to purchase one additional Share of the Company at any time
for two years from the closing date of the Private Placement at a price of
$0.15 per Share.
The Company is proposing to pay a
finder’s fee (the “Finder’s Fees”)
to finders comprised of a cash fee representing up to 10% of the total proceeds
of the Private Placement placed by such finder and warrants (the “Finder’s Warrants”) up to 10% of the
number of Units the finder sells in the Private Placement. The Finders’ Warrants will be exercisable
into one additional Share of the Company at a price of $0.15 per Share for a
period of 2 years from the closing date of the Private Placement.
The Company intends to use the
proceeds from the Private Placement for research and development, operations,
and business development activities. All securities to be issued under the
Private Placement will be subject to a hold period in accordance with the
Toronto Stock Exchange Venture (“TSXV”) and/or other regulatory requirement.
Closing of the Private Placement is subject to customary conditions, including
TSX Venture Exchange acceptance.
The securities offered have not
been, and will not be, registered under the United States Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration or any applicable exemption from the registration requirement of
such Act. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale would
About Moody Capital Solutions
provides capital raising, merger and acquisition services and other investment
banking services. We service both publicly-listed and privately held
small/micro-cap companies. Moody Capital’s senior bankers have extensive
experience in community banking, healthcare, life sciences, alternative energy,
electronics manufacturing and technology. Our experience includes capital
raises directly with the public and using our extensive relationships with
leading institutional investors including; private equity firms, venture
capital firms, hedge funds and other alternative funding sources. For more
information visit www.moodycapital.com.
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company developing diabetes therapeutics,
skin depigmenting and anti-aging agents for cosmetic use, biological
ingredients and cancer vaccine antigens.
The company utilizes a proprietary chemistry technique to improve
pharmaceutical properties of carbohydrate-based molecules. Sirona Biochem is
the parent company of French-based biotechnology company, TFChem. For more information visit .
Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
Sirona Biochem Corp.
Sirona Biochem cautions you that statements included in this press
release that are not a description of historical facts may be forward-looking
statements. Forward-looking statements are only predictions based upon current
expectations and involve known and unknown risks and uncertainties. You are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of release of the relevant information, unless
explicitly stated otherwise. Actual
results, performance or achievement could differ materially from those
expressed in, or implied by, Sirona Biochem’s forward-looking statements due to
the risks and uncertainties inherent in Sirona Biochem’s business including,
without limitation, statements about: the progress and timing of its clinical
trials; difficulties or delays in development, testing, obtaining regulatory
approval, producing and marketing its products; unexpected adverse side effects
or inadequate therapeutic efficacy of its products that could delay or prevent
product development or commercialization; the scope and validity of patent
protection for its products; competition from other pharmaceutical or
biotechnology companies; and its ability to obtain additional financing to
support its operations. Sirona Biochem
does not assume any obligation to update any forward-looking statements except
as required by law.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.