On March 12, 2020 Helix BioPharma Corp. (TSX: "HBP") ("Helix" or the "Company"), an immuno-oncology company developing innovative drug candidates for the prevention and treatment of cancer, reported it has closed a private placement financing of 5,042,016 units of the Company ("Units") at a price of $1.0332 per Unit, and the concurrent disposition of 1,708,023 shares of the Company’s Polish subsidiary, Helix Immuno-Oncology S.A. ("HIO"), to a third-party purchaser, representing an 15.5% equity stake in HIO (together with the Units, the "Purchased Securities"), for aggregate gross proceeds of CAD $6,000,000, or $1.19 per Purchased Security (Press release, Helix BioPharma, MAR 12, 2020, View Source [SID1234555544]).

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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 $1.67 and have an expiry of five years from the date of issuance. The terms of the private placement also included the concurrent disposition by the Company of 1,708,023 shares of HIO, representing 15.5% of the outstanding shares of HIO. Following the disposition, the Company owns 51% 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.