On January 13, 2020 Helix BioPharma Corp. (TSX: "HBP") ("Helix" or the "Company"), an immunooncology company developing innovative drug candidates for the prevention and treatment of cancer, reported it has closed a private placement financing of 2,940,000 units of the Company ("Units") and the disposition of shares of the Company’s Polish subsidiary, Helix Immuno-Oncology S.A. ("HIO"), representing an 8.5% stake in HIO (together with the Units, the "Purchased Securities") for aggregate gross proceeds of approximately CAD $3,000,000, or $1.02 per Purchased Security (Press release, Helix BioPharma, JAN 13, 2020, View Source [SID1234553139]).

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Each Unit is comprised of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one common share at an exercise price of $1.43 and have an expiry of five years from the date of issuance. The terms of the private placement also include the disposition by the Company of shares of HIO, representing 8.5% of the outstanding shares of HIO. Following the disposition, the Company owns 66.5% of the outstanding shares of HIO.

The Company intends to use the net proceeds of the private placement for working capital and research and development activities.

ACM Alpha Consulting Management AG provided financial advisory services to Helix in connection with the private placement