TORONTO April 28, 2017- Microbix Biosystems Inc. (TSX: MBX), an innovator of biological products and technologies,announced today it has negotiated an extension of its principal amount of the $500,000 non-convertible debenture set to mature on April 30, 2017. The arms’ length debenture holder has agreed to extend the maturity date of the debenture to April 30, 2022 in exchange for amendments to an aggregate of 300,000 common share purchase warrants (the “Warrants”) held by the debenture holder.
Each Warrant currently entitles the holder to purchase one common share of Microbix at a price of $0.55 until August 21, 2019. Microbix has applied to the TSX to extend the term of the Warrants to August 21, 2022 and to amend the exercise price of the Warrants to $0.25 per share. The amendments to the terms of the Warrants are subject to TSX approval.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
About Microbix
Microbix Biosystems Inc. specializes in the research and development of biological solutions, including products for human health applications, namely in the vaccine, therapeutic and diagnostic markets, as well as animal reproductive markets worldwide. The Company manufactures and distributes a wide range of infectious disease antigens to a worldwide customer base. The Company’s pipeline of innovative technologies and products includes LumiSort semen sexing technology for the livestock industries, Kinlytic, a thrombolytic drug with several approved and potential applications including the treatment of life-threatening blood clots, and VIRUSMAX, a proprietary technology for increasing virus yields in the manufacture of influenza vaccine. Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange, and headquartered in Mississauga, Ontario.
Forward-Looking Information
This news release includes “forward-looking information”, as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, the risks associated with development projects, operations in foreign jurisdictions, risks associated with engineering and construction generally, risks associated with production including control over costs, quality, quantity and timeliness of delivery of products, foreign currency and exchange rate risk, and risks of raising capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and represent the Company’s judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information.
Please visit www.sedar.com for recent Microbix Biosystems Inc. filings.
For further information, please visit www.microbix.com or contact:
Company Contacts:
Vaughn C. Embro-Pantalony
CEO
(905) 361-8910 x 350
vaughn.embro-pantalony@microbix.com
Jim Currie
CFO
(905) 361-8910 x 255
jim.currie@microbix.com Stephen Kilmer Investor Relations (647) 872-4849 stephen.kilmer@microbix.com