By Sheri Kasprzak
New York, Oct. 4 - Helix BioPharma Corp. said it has completed a private placement of units for C$4 million.
The company sold 2,339,181 units at C$1.71 each to investors in Europe.
Each unit includes one share and one warrant. The warrants are exercisable at C$2.39 each through March 31, 2008.
Proceeds will be used for pre-clinical and clinical development of products in its pipeline. The rest will be used for working capital and general corporate purposes.
Based in Aurora, Ont., Helix is a biopharmaceutical company focused on treatments for cancer.
| Issuer: | Helix BioPharma Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$4 million
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| Units: | 2,339,181
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| Price: | C$1.71
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| Warrants: | One warrant per unit
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| Warrant expiration: | March 31, 2008
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| Warrant strike price: | C$2.39
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| Settlement date: | Oct. 4
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| Stock price: | C$1.85 at close Oct. 4
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