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Helix BioPharma closes C$3M private placement

Helix Biopharma Corp. said it closed its private placement of units, for gross proceeds of a little over C$3 million.

Each unit, priced $1.20, includes one common share and one common share purchase warrant. Each common share purchase warrant will allow the holder to purchase one common share at an exercise price of $1.50 and will have an expiry of five years from issuance date.

Net proceeds from the placement will be used for working capital and research and development.

ACM Alpha Management Consulting Est. acted as financial adviser for the private placement.

The company, which raised C$1.1 million via a private placement in March, said it has now raised total capital of about C$5 million in 2017.