Antibe Therapeutics Announces Amendment to Warrant Terms

Rhea-AI Summary

Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF) is extending the expiry date and amending the exercise price of its common share purchase warrants, aiming to take effect on December 29, 2023. After the extension, each warrant will expire on July 31, 2024, and be exercisable to purchase a common share at a price of $1.50. The amendments affect warrants issued on August 13, 2019, June 30, 2020, and February 24, 2021, with detailed changes in the exercise price, expiry date, and effective date provided in the press release.

TORONTO--(BUSINESS WIRE)-- Antibe Therapeutics Inc. (TSX: ATE, OTCQX: ATBPF) (the "Company"), a clinical stage company leveraging its hydrogen sulfide platform to develop next-generation safer therapies that target inflammation, announces that it is extending the expiry date (the “Warrant Extension”), and amending the exercise price (the “Exercise Price Amendment”) of the common share purchase warrants (“Warrants”) of the Company issued on August 13, 2019, June 30, 2020 and February 24, 2021. The amendments will take effect on December 29, 2023.

Warrant Extension and Exercise Price Amendment

After giving effect to the Warrant Extension, each Warrant issued on August 13, 2019, June 30, 2020 and February 24, 2021 will (i) expire on July 31, 2024, and (ii) be exercisable to purchase a common share of the Company at a price of $1.50 per common share. The existing and amended expiry dates and exercise prices are detailed in the table below:

Issue Date	Number of Warrants	Current Exercise Price	Amended Exercise Price	Current Expiry Date	Amended Expiry Date	Effective Date
August 13, 2019	748,555	$1.80	$1.50	December 31, 2023	July 31, 2024	December 29, 2023
June 30, 2020	2,373,401	$1.80	$1.50	December 31, 2023	July 31, 2024	December 29, 2023
February 24, 2021	3,363,750	$7.50	$1.50	February 24, 2024	July 31, 2024	December 29, 2023

None of the Warrants are held by insiders of the Company.

The Toronto Stock Exchange has provided conditional approval for the Warrant Extension and Amended Exercise Price with an effective date for the amendments of December 29, 2023.

About Antibe Therapeutics Inc.

Antibe is a clinical stage biotechnology company leveraging its proprietary hydrogen sulfide platform to develop next-generation safer therapies that target inflammation arising from a wide range of medical conditions. The company’s current pipeline includes assets that seek to overcome the gastrointestinal (“GI”) ulcers and bleeding associated with nonsteroidal anti-inflammatory drugs (“NSAIDs”). Antibe’s lead drug, otenaproxesul, is in clinical development as a safer alternative to opioids and today’s NSAIDs for post-operative pain. Antibe’s second pipeline drug, ATB-352, is being developed for a specialized acute pain indication. The company’s anticipated next target is inflammatory bowel disease (“IBD”), a condition long in need of safer, more effective therapies. Learn more at antibethera.com.

Forward-Looking Statements

This press release contains forward-looking statements identified by words such as “expects”, “will” and similar expressions, which reflect the Company’s current expectations regarding future events. This forward-looking information includes statements with respect to, among other things, amendments to the Warrants and receipt by the Company of final approval of the Toronto Stock Exchange in respect of amendments to the Warrants. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding: receipt of final approval of the Toronto Stock Exchange in respect of the amendments to the Warrants). The forward-looking statements involve risks and uncertainties that could cause the Company’s actual events to differ materially from those projected herein. Investors should consult the Company’s ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231212003662/en/

Antibe Therapeutics Inc.

Christina Cameron

VP Investor Relations

+1 416-577-1443

christina@antibethera.com

Source: Antibe Therapeutics Inc.

FAQ

What is the ticker symbol for Antibe Therapeutics Inc.?

The ticker symbol for Antibe Therapeutics Inc. is ATE on the Toronto Stock Exchange and ATBPF on the OTCQX.

What are the amendments made to the common share purchase warrants?

The amendments include extending the expiry date to July 31, 2024, and amending the exercise price to $1.50 per common share.

When will the amendments take effect?

The amendments will take effect on December 29, 2023.

What is the current exercise price of the warrants issued on February 24, 2021?

The current exercise price of the warrants issued on February 24, 2021 is $7.50.

Who has provided conditional approval for the warrant extension and amended exercise price?

The Toronto Stock Exchange has provided conditional approval for the warrant extension and amended exercise price.