Defence Arranges Financing

Rhea-AI Summary

Defence Therapeutics (CSE: DTC) (OTCQB: DTCFF) has announced a non-brokered private placement to raise up to $4.2 million through the issuance of up to 7 million units at $0.60 per unit. Each unit consists of one common share and one warrant, with each warrant allowing the purchase of an additional common share at $0.75 for 24 months after closing.

The proceeds will be used to advance preclinical and clinical programs and for general working capital. The company may pay finder's fees, and securities will be subject to a four-month and one-day hold period following closing.

Positive

• Secured potential funding of up to $4.2 million to advance clinical programs
• Warrant structure provides potential for additional future capital at $0.75 per share

Negative

• Dilutive effect on existing shareholders through issuance of up to 7 million new units
• Offering price of $0.60 per unit may represent a discount to market price

Vancouver, British Columbia--(Newsfile Corp. - December 31, 2024) - Defence Therapeutics Inc. (CSE: DTC) (OTCQB: DTCFF) (FSE: DTC) ("Defence" or the "Company"), a Canadian biopharmaceutical company developing radiopharmaceuticals and ADC products using its proprietary platform and drug delivery technologies in addition to novel immune-oncology vaccines, is pleased to announce a non-brokered private placement of up to $4.2 million at $0.60 per unit comprising of up to seven million units (each, a "Unit") of the Company.

Each Unit is comprised of one common share in the capital of the Company and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional common share at a price of $0.75 per common share for a period of 24 months of the closing date (the "Offering").

The Company intends to use the net proceeds to advance its preclinical and clinical programs, and for general working capital. The Company may pay a finder's fee in connection with the Offering in accordance with the policies of the CSE. The securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day following the closing date in accordance with the CSE.

About Defence:

Defence Therapeutics is a publicly-traded clinical-stage biotechnology company developing and engineering the next generation of radio-immuno-conjugate and ADC products using its proprietary platform in addition to novel immune-oncology vaccines. The core of Defence Therapeutics platform is the ACCUM^® technology, which enables precision delivery of radio-immuno-conjugates or ADCs in their intact form to target cells, and vaccine antigens. As a result, increased efficacy and potency can be reached against catastrophic illness such as cancer and infectious diseases.

For further information:

Sebastien Plouffe, President, CEO and Director

P: (514) 947-2272
Splouffe@defencetherapeutics.com
www.defencetherapeutics.com

Cautionary Statement Regarding "Forward-Looking" Information

Neither the CSE nor its market regulator, as that term is defined in the policies of the CSE, accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235671

FAQ

How much is Defence Therapeutics (DTCFF) raising in its private placement?

Defence Therapeutics is raising up to $4.2 million through a non-brokered private placement at $0.60 per unit.

What are the terms of the DTCFF warrants in the December 2024 offering?

Each warrant allows holders to purchase one additional common share at $0.75 for a period of 24 months from the closing date.

How will Defence Therapeutics use the proceeds from its $4.2M private placement?

The company plans to use the net proceeds to advance its preclinical and clinical programs, and for general working capital.

What is the holding period for securities issued in Defence Therapeutics' private placement?

Securities issued in the offering will have a statutory hold period of four months and one day following the closing date.