3D Signatures Announces Private Placement With Strategic Partner And Prospectus Update
Published: Oct 04, 2017
TORONTO, Oct. 03, 2017 (GLOBE NEWSWIRE) -- 3D Signatures Inc. (TSX-V:DXD) (OTCQB:TDSGF) (FSE:3D0) (the "Company" or "3DS") is pleased to announce a non-brokered private placement (the “Private Placement”) of 2,000,000 common shares (the “Shares”) at a price of C $0.25 per Share for gross proceeds of C $500,000 with ScreenCell SA (“ScreenCell”).
ScreenCell, a strategic partner to 3DS, has been working closely with the Company since its inception and has a deep working knowledge of 3DS’ technology. ScreenCell supplies the Company with a screening system for the capture and isolation of circulating tumor cells (“CTCs”) from blood.
“It’s a strong endorsement of 3DS when a major supplier and technology collaborator makes a financial investment in the Company,” stated Jason Flowerday, 3DS’ CEO. “ScreenCell is a leader in its field and we look forward to a continued partnership.”
The Private Placement is subject to receipt of all necessary regulatory and stock exchange approval, including the approval of the TSX Venture Exchange. The Shares issued pursuant to the Private Placement will be subject to a four-month hold period in accordance with applicable Canadian securities law.
The use of proceeds of the Private Placement is for clinical operations, namely the Company’s Hodgkin’s lymphoma clinical trial, including clinical wages and laboratory expenses, and general working capital.
In addition to the Private Placement, the Company intends to file an amended and restated preliminary short form prospectus as soon as possible in relation to the offering first announced by the Company on July 19, 2017, in order to incorporate amendments related to the closing of the Private Placement and to update other relevant information.
ScreenCell is a French-based biotechnology company with a simple and innovative non-invasive technology for isolating fixed or live CTCs from whole blood, and potentially any atypical cell in biological fluids. For more information, visit their website at http://www.screencell.com/.
3DS (TSX-V:DXD) (OTCQB:TDSGF) (FSE:3D0) is a personalized medicine company with a proprietary software platform based on the three-dimensional analysis of chromosomal signatures. The technology is well developed and supported by 22 clinical studies on over 2,000 patients on 13 different cancers and Alzheimer’s disease. Depending on the desired application, this platform technology can measure the stage of disease, rate of progression of disease, drug efficacy, and drug toxicity. The technology is designed to predict the course of disease and to personalize treatment for the individual patient. For more information, visit the Company’s website at http://www.3dsignatures.com.
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CEO & Director
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
The information concerning ScreenCell contained in this news release has been provided by ScreenCell. Although 3DS has no knowledge that would indicate that any statements contained herein concerning ScreenCell are untrue or incomplete, the directors and officers of 3DS assume no responsibility for the accuracy or completeness of such information.
This news release contains forward-looking information that is based on current expectations. Statements with respect to the completion of the Private Placement, receipt of TSX Venture Exchange approval, the anticipated use of proceeds, the timing and progression of the Company’s short-form prospectus offering, objectives and priorities, strategies or future actions, research and development, product development, and the effectiveness of 3DS’ technology, among others, are all forward-looking information. Forward-looking information consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward looking wording such as “will”, “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking information involve numerous assumptions and known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking information will not occur. These assumptions include, among other things, the closing of the Private Placement, the receipt of TSX Venture Exchange approval therefor, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of the Company. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: that the Private Placement may not close; that the Company not be able to continue its short form prospectus offering; market demand; technological changes that could impact the Company’s existing products or the Company’s ability to develop and commercialize future products; competition; existing governmental legislation and regulations and changes in, or the failure to comply with, governmental legislation and regulations; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the Company’s ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; adverse results or unexpected delays in clinical trials; changes in laws, general economic and business conditions; and changes in the regulatory regime. The Company cautions the reader that the above list of risk factors is not exhaustive. Important factors that could cause actual results to differ materially from the Company’s expectations include: litigation, the condition of the global economy, loss of key employees and consultants, additional funding requirements, changes in laws, technology failures, competition, and the failure of counterparties to perform their contractual obligations. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Such information should not be read as a guarantee of future performance or results. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements.
The forward-looking information contained in this news release is made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.