Antibe Therapeutics Announces Amendment to Warrant Terms

Rhea-AI Summary

Antibe Therapeutics Inc. (OTCQX: ATBPF) announces a Warrant Extension and Amended Exercise Price for 3,117,957 common share purchase warrants. The exercise price is reduced to $1.80 per share, and the expiry date is extended to December 31, 2023. Conditional approval from The Toronto Stock Exchange was granted for these amendments. Antibe is focused on developing safer therapies targeting inflammation with a proprietary hydrogen sulfide platform, including lead drug otenaproxesul for opioid alternatives and ATB-352 for acute pain indications.

Positive

• Warrant exercise price reduced from $6.00 and $4.00 to $1.80 per share, making it more attractive for investors.
• Warrant expiry extended to December 31, 2023, allowing more time for potential conversion.

Negative

• None.

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 “Amended Exercise Price”) of 3,117,957 common share purchase warrants (“Warrants”) of the Company.

Warrant Extension and Amendment

The Warrants, pursuant to the Warrant Extension, will expire on December 31, 2023 and, pursuant to the Amended Exercise Price, be exercisable into a common share of the Company at $1.80 per common share, as depicted in the table below:

Issue Date	Number of Warrants	Issued Exercise Price	Amended Exercise Price	Original Expiry Date	Amended Expiry Date	Effective Date
June 30, 2020	2,373,401	$6.00	$1.80	June 30, 2022	December 31, 2023	June 30, 2022
August 13, 2019	744,556	$4.00	$1.80	August 13, 2022	December 31, 2023	June 30, 2022

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 June 30, 2022.

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. 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 Company disclaims any obligation to update these forward-looking statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220615005402/en/

Antibe Therapeutics Inc.

Christina Cameron

VP Investor Relations

+1 416-577-1443

christina@antibethera.com

Source: Antibe Therapeutics Inc.

FAQ

What is the new expiry date for Antibe Therapeutics warrants?

The new expiry date for Antibe Therapeutics warrants is December 31, 2023.

What is the amended exercise price for Antibe Therapeutics warrants?

The amended exercise price for Antibe Therapeutics warrants is $1.80 per share.

How many common share purchase warrants did Antibe Therapeutics extend?

Antibe Therapeutics extended the expiry of 3,117,957 common share purchase warrants.

Who approved the warrant extension for Antibe Therapeutics?

The Toronto Stock Exchange provided conditional approval for the warrant extension.

What is Antibe Therapeutics' lead drug?

Antibe Therapeutics' lead drug is otenaproxesul, aimed at providing a safer alternative to opioids.