Helix ends review, drops GEM equity facility plan

Executive Summary

• Helix BioPharma Corp. has decided not to proceed with the previously announced equity draw-down subscription facility with GEM Global Yield LLC SCS and GEM Yield Bahamas Ltd.
• Although the company received shareholder approval for the financing arrangement at its annual general and special meeting on March 26, 2025, it determined that the facility no longer aligns with its capital strategy or long-term corporate objectives following an evaluation of market conditions.
• The letter of intent with GEM has expired, and the company will not execute binding agreements or pursue this specific financing, though it continues to seek alternative financing structures.

Key Details

• Transaction Cancellation: Helix BioPharma elected not to proceed with the proposed equity draw-down subscription facility with GEM Global Yield LLC SCS and GEM Yield Bahamas Ltd.
• Previous Announcements: The facility was initially disclosed via a non-binding term sheet dated October 15, 2024, and further announced in news releases dated February 24, 2025, and March 26, 2025, as well as in the management and information circular dated January 31, 2025.
• Shareholder Approval: Shareholders approved the financing arrangement at the company's annual general and special meeting held on March 26, 2025.
• Reason for Cancellation: The decision was made after a thorough evaluation of market conditions and long-term corporate objectives, with the company concluding the facility no longer aligned with its capital strategy or commitment to maximizing long-term shareholder value.
• Status of Agreement: The letter of intent with GEM expired in accordance with its terms; the company has elected not to proceed to the execution of binding agreements.
• Future Strategy: Helix continues to engage in constructive discussions with financial partners to explore alternative financing structures to support its clinical programs and corporate objectives.

Notable Quotes

• "Following a thorough evaluation of market conditions and long-term corporate objectives, Helix determined that the GEM facility no longer aligns with its capital strategy or its commitment to maximizing long-term shareholder value."
• "Independently of this decision, Helix continues to engage in constructive discussions with financial partners to explore alternative financing structures that may better align with the company's needs and strategic direction."