On December 21, 2019 Helix BioPharma Corp. (TSX, FSE: "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 third tranche of a private placement financing for gross proceeds of CAD700,800 (Press release, Helix BioPharma, DEC 21, 2018, View Source [SID1234533056]). Helix closed the first and second tranches of the private placement on December 6, 2018 and December 20, 2018 for gross proceeds of CAD871,200 and CAD342,000, respectively. The Company expects to complete a final tranche of the private placement financing before the end of December.

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The terms of the placement are for the purchase of units at $1.20 per unit. 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 $1.50 and have an expiry of five years from the date of issuance. Helix 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.