BioCure Technology Inc. (CSE:CURE) (“BioCure” or the “Company”) has issued an aggregate of 1.89 million share purchase warrants with an exercise price of $0.63 per share. The warrants are issuable pursuant to a services agreement dated March 22, 2017, as amended and originally entered into by the company’s wholly owned subsidiary, Biocurepharm Corp., with Columbia Capital Inc.
BioCure Technology Inc. (CSE:CURE) (“BioCure” or the “Company”) has issued an aggregate of 1.89 million share purchase warrants with an exercise price of $0.63 per share. The warrants are issuable pursuant to a services agreement dated March 22, 2017, as amended and originally entered into by the company’s wholly owned subsidiary, Biocurepharm Corp., with Columbia Capital Inc. Pursuant to the agreement, CCI was, among other things, entitled to a success fee in relation to the completion of the company’s acquisition of BP Korea, of warrants to acquire up to 5 percent of the outstanding shares of BP Korea. BP Korea and CCI previously agreed that this fee would be settled through the issuance of warrants to acquire 3.79 million common shares of the company at an exercise price and for a term to be determined, which warrants would be issued within six months of the completion of the transaction.
About Biocure Technology Inc.
Biocure is a South Korean-based biopharmaceutical company specializing in the development and potential commercialization of biosimilar pharmaceutical products. Biocure is in the process of preclinical trials of five major biosimilar products in South Korea, including interferon beta 1b, PEG-filgrastim and ranibizumab, as well as CAR-T-cell therapy. Biocure is also developing a foot and mouth disease vaccine, a hair growth production product, and a breast cancer detection kit.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Sang Mok Lee”
CEO and Director
For further information, please contact:
Biocure Technology Inc. Telephone: 604-609-7149
Certain statements in this news release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the Company’s proposed activities under the Agreement and the expectations of the Company regarding funding payments due pursuant to the Agreement. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements. Neither the Canadian Securities Exchange (the “CSE”) nor the Investment Industry Regulatory Organization of Canada) accepts responsibility for the adequacy or accuracy of this release.