Sirona Biochem Provides Update on Loan

Sirona Biochem Provides Update on Loan

Sirona Biochem Corp . (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) (" Sirona " or the " Company ") announce that, further to its news release on January 29, 2024, it has entered into an amendment to the demand grid promissory note dated September 22, 2023 (the " Amended Note ") with 0906462 B.C. Ltd. (the " Lender "). The Amended Note evidences a loan in the aggregate principal amount of up to $1,000,000 (the " Loan "). Pursuant to the terms and conditions of the Amended Note:

(a)   the Loan is repayable on demand by the Lender at any time following the one-year anniversary of the date of the applicable advance;

(b)   the Loan bears interest at a rate of 12% per annum, calculated yearly not in advance; and

(c)   the Company has agreed to, subject to TSX Venture Exchange approval (" TSXV Approval "), issue the Lender 450,000 common shares in the capital of the Company (" Bonus Shares ") at a price of $0.12 per Bonus Share, as consideration for the risks taken by the Lender in providing the Company the Loan.

The Company has drawn on the Loan in six installments from September 22, 2023, to December 29, 2023. The current outstanding balance on the Loan is $540,000 and as of January 31, 2024, the accrued interest on the Loan was $11,178.08. The Company intends to use the proceeds from the Loan for general working capital purposes.

The Bonus Shares, if and when issued, will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

The Lender is wholly-owned by Howard Verrico, a director and officer of the Company. Accordingly, the Loan constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions (" MI 61-101 "). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, for the Loan, as the value of the Loan does not represent more than 25% of the Company's market capitalization, as determined in accordance with MI 61-101.

About Sirona Biochem Corp.

Sirona is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.

Sirona's compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona's laboratory, TFChem, is in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com .

For more information regarding this press release, please contact:

Investor Enquiries:

Christopher Hopton
Chief Financial Officer

Phone: (604) 641-4466
Email: info@sironabioche.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

SBM:CA
Sirona Biochem

Sirona Biochem Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Sirona Biochem (TSXV:SBM)

Sirona Biochem


Keep reading...Show less
Sirona Biochem Announces Publication of Groundbreaking Study on TFC-1326 Compound in the Journal of Cosmetic Dermatology

Sirona Biochem Announces Publication of Groundbreaking Study on TFC-1326 Compound in the Journal of Cosmetic Dermatology

Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) is proud to announce the publication of a pivotal research article in the prestigious Journal of Cosmetic Dermatology .

About the Study

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
SIRONA BIOCHEM Poised for Profitability in 2025 with Anti-Aging Product Rollout

SIRONA BIOCHEM Poised for Profitability in 2025 with Anti-Aging Product Rollout

Sirona Biochem Corp . (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) (" Sirona " or the " Company ") provides the following update:

Dear Shareholders,

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
GlycoProteMim Featured in Stonegate Healthcare's Latest Anti-Aging Research Report

GlycoProteMim Featured in Stonegate Healthcare's Latest Anti-Aging Research Report

Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) is pleased to announce that its innovative anti-aging ingredient, GlycoProteMim™, has been featured in Stonegate Healthcare's newly published research report, "Novel Treatments for Age-Related Skin Problems." The report provides an in-depth analysis of the latest advancements in the $12.5 billion anti-aging skincare market.

The research highlights GlycoProteMim alongside other prominent active ingredients such as OneSkin's OS-01, Sisley Paris' Soy Peptides, SK-II's Pitera™, and SkinMedica's TNS Advanced Serum. GlycoProteMim is recognized for its unique approach to skin rejuvenation, addressing both surface-level appearance and underlying cellular mechanisms, making it a standout in the evolving landscape of skincare treatments.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Stonegate Healthcare Partners Announces Publication of Thematic Report on Anti-Aging Dermatology Innovations

Stonegate Healthcare Partners Announces Publication of Thematic Report on Anti-Aging Dermatology Innovations

Stonegate Healthcare Partners, a leading name in healthcare consultancy and market intelligence, is pleased to announce the publication of a comprehensive thematic report titled "Leading Innovations in Anti-Aging Dermatology." This report delves into the transformative advancements in the treatment of age-related skin conditions, focusing on cutting-edge technologies and personalized holistic approaches that are poised to revolutionize the skincare industry.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

  • Emerging novel topicals: Innovations like OneSkin's OS-01, Sirona Biochem's GlycoProteMim, and SK-II's Pitera offer signficant benefits that will let them take market share away from existing treatments.
  • Personalized and holistic skincare: Advances ingenomics, skin diagnostics, and AI-driven tools enable tailored treatment plans ushering in a new era of skincare.
  • Companies highlighted in this report are: SkinMedica, SK-II, Sirona Biochem (TSXV: SBM), One Skin, and CTEK Sisley.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7294/213432_figure1_550.jpg

Click image above to view full announcement.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Sirona Biochem Engages Stonegate Healthcare Partners

Sirona Biochem Engages Stonegate Healthcare Partners

Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) has announced a partnership with Stonegate Healthcare Partners. Stonegate is a leading corporate advisory firm based in Dallas, Texas that offers research driven business development and investor outreach services. Leveraging Stonegate's extensive global network of corporate and institutional investor relationships, Stonegate has begun an evaluation of Sirona's anti-aging ingredient, GlycoProteMimTM, to effectively assess and demonstrate its market potential within the global anti-aging skincare industry.

About Sirona Biochem Corp.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Young female researcher working in a lab.

Radiopharmaceuticals Take Investors to the Forefront of Precision Oncology

Radiopharmaceuticals are emerging as one of the most promising innovations in modern medicine, particularly in precision oncology, and if recent billion-dollar investment deals are any indication, the potential for growth can be significant. Investors eyeing exposure to this emerging technology would benefit from a deeper understanding of the technology, its strategic applications and investment opportunities.

A groundbreaking technology in the field of oncology, radiopharmaceuticals combine radioactive substances with targeted molecules to revolutionise cancer detection and treatment. These innovative compounds are gaining significant attention due to their ability to deliver precise and targeted cancer therapies, minimising damage to healthy tissues while maximising therapeutic efficacy.

At their core, radiopharmaceuticals leverage the unique properties of radioactive isotopes, pairing them with molecules that have a high affinity for cancer cells. This combination allows for both diagnostic imaging and therapeutic applications, offering a level of precision previously unattainable in traditional cancer treatments.

Keep reading...Show less

AMGEN ANNOUNCES SENIOR EXECUTIVE RESEARCH APPOINTMENT

Howard Chang , M.D., Ph.D.,   Joins as Senior Vice President of Research and Chief Scientific Officer

Amgen (NASDAQ:AMGN) today announced that Howard Chang M.D., Ph.D., will join the company as senior vice president of Research, effective Dec. 16, 2024 . Chang will also assume the title and responsibility of serving as Amgen's chief scientific officer, reporting to Jay Bradner M.D., executive vice president of Research and Development.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Top 5 Life Science ETFs in 2024

Top 5 Life Science ETFs in 2024

Taking a position in a life science exchange-traded fund (ETF) provides exposure to a basket of stocks focused on the healthcare sector, while mitigating the risks of holding shares in a single company.

While ETFs provide diversification by their nature, fund managers often narrow down their offerings to follow a specific aspect of the market — for example, biotech or pharma. They also typically adjust the weight of ETF holdings to match movements in the life science industry in an effort to give investors the best possible returns.

There are many choices when it comes to life science ETFs, and to help investors understand their options, the Investing News Network has listed the top life science ETFs by year-on-year performance.

Keep reading...Show less
Radiopharm Theranostics

Australian Ethics Committee Approval to Expand PD-L1 Nanobody (RAD204) Phase 1 Trial in Multiple Tumor Types

Radiopharm Theranostics (ASX:RAD, “Radiopharm” or the “Company”), a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for areas of high unmet medical need, is pleased to announce it has been granted Human Research Ethics Committee (HREC) approval to include participants with Programmed Death-Ligand 1 (PD-L1) positive Small Cell Lung Cancer (SCLC), Triple Negative Breast Cancer (TNBC), Melanoma, Head and Neck Cancer (HNSCC), and Endometrial Cancer, as part of its ongoing Phase 1 clinical trial of 177Lu-labelled RAD204 for the treatment of PD-L1 expressing cancers.
Keep reading...Show less
Cardiol Therapeutics' Phase II MAvERIC-Pilot Clinical Results in Recurrent Pericarditis Presented at the American Heart Association Scientific Sessions 2024

Cardiol Therapeutics' Phase II MAvERIC-Pilot Clinical Results in Recurrent Pericarditis Presented at the American Heart Association Scientific Sessions 2024

Marked and rapid reductions in both pericarditis pain and inflammation
maintained throughout the 26-week study

Episodes of pericarditis per year substantially reduced

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Radiopharm Theranostics (ASX:RAD)

Radiopharm Theranostics CEO Shares Company Milestones as NASDAQ Listing Nears

Description

During a fireside chat with analysts from Brookline Capital Markets, Radiopharm Theranostics’ (ASX:RAD) CEO Riccardo Canevari provided clinical and corporate updates highlighting the company’s achievements while waiting for the completion of its listing on the NASDAQ expected at the end of 2024.

Keep reading...Show less
Sirona Biochem

Sirona Biochem Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×