Helix BioPharma Corp. Announces Closing of Private Placement of Convertible Debentures

Executive Summary

• Helix BioPharma Corp. closed a non-brokered private placement of unsecured convertible debentures, raising C$3,673,000 in aggregate gross proceeds.
• The debentures carry a 25% annual interest rate, mature in 14 months, and are convertible into common shares at C$1.42 per share if not repaid by the maturity date.
• Net proceeds will be allocated to general working capital and the advancement of the company's drug development programs.

Key Details

• Structure: Non-brokered private placement of unsecured convertible debentures.
• Quantity Issued: 3,673 Convertible Debentures.
• Gross Proceeds: C$3,673,000.
• Interest Rate: 25.00% per annum, calculated on a simple interest basis.
• Maturity Date: 14 months from the closing date.
• Principal Conversion Price: C$1.42 per Share (based on market price on the price reservation date, less the permitted 20% TSX discount).
• Interest Conversion Price: Greater of (i) the Principal Conversion Price, or (ii) the volume weighted average trading price of the Shares over the five (5) trading days immediately preceding the relevant date, less the TSX permitted discount.
• Use of Proceeds: General working capital purposes and advancement of the Company’s drug development programs.
• Hold Period: Statutory four-month hold period commencing on the closing date.
• Finder’s Fees: None paid in connection with the Offering.