ProMIS Neurosciences Announces Gross Proceeds of $1,484,498 Related to the Exercise of Common Stock Warrants
TORONTO and CAMBRIDGE, MA, March 7, 2018 /PRNewswire/ - ProMis Neurosciences, Inc., a biotechnology company focused on the discovery and development of precision treatments for neurodegenerative diseases, today announces that it has received proceeds of CDN $1,484,498 related to the exercise of common stock warrants. The warrants were exercised at $0.17, $0.20 or $0.30.
Commenting on today's announcement, ProMIS Executive Chairman, Eugene Williams, stated: "We are very pleased to receive approximately $1.5 million of proceeds from warrant exercise. These additional funds will now extend our cash life further into the second half of 2018. ProMIS remains focused on developing PMN310 as potential best in class therapy for Alzheimer's disease."
About ProMIS Neurosciences, Inc.
ProMIS Neurosciences, Inc. is a development stage biotechnology company focused on discovering and developing precision medicine therapeutics to treat neurodegenerative diseases, in particular Alzheimer's disease (AD) and amyotrophic lateral sclerosis (ALS). The Company's proprietary target discovery engine is based on the use of two complementary techniques. The Company applies its thermodynamic, computational discovery platform--ProMIS™ and Collective Coordinates -- to predict novel targets known as Disease Specific Epitopes (DSEs) on the molecular surface of misfolded proteins. Using this unique precision medicine approach, the Company is developing novel antibody therapeutics and specific companion diagnostics for AD and ALS. ProMIS is headquartered in Toronto, Ontario, with offices in Cambridge, Massachusetts. ProMIS is listed on the Toronto Stock Exchange, under the symbol PMN.TO, and on the OTCQB Venture Market under the symbol ARFXF.
For further information please consult the Company's website at:
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This announcement contains "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "possibly", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX nor the OTCQB has approved or disapproved of the contents of this press release.
For media inquiries, please contact: David Schull, RussoPartners/LLC, David.Schull@russopartnersllc.com, Tel. 858 717-2310; For Investor Relations please contact: Alpine Equity Advisors, Nicholas Rigopulos, President, email@example.com, Tel. 617 901-0785; Dr. Elliot Goldstein, President and Chief Executive Officer, ProMIS Neurosciences Inc., Tel. 415 341-5783, Elliot.firstname.lastname@example.org
SOURCE ProMIS Neurosciences Inc.
Company Codes: OTC-QB:ARFXF, Toronto:PMN