Stellar Biotechnologies Raises US$10 Million in Initial Closing of Private Placement
10 Settembre 2013 - 8:59PM
Marketwired
Stellar Biotechnologies, Inc. ("Stellar" or "the
Company") (OTCQB: SBOTF) (TSX VENTURE: KLH), announced today
that, further to its news release of August 22, 2013, it has
completed the initial closing of its private placement, which
included brokered and non-brokered portions, raising initial gross
proceeds of US$10M (the "Initial Closing"). The proceeds of the
Initial Closing will be used for product research, aquaculture and
KLH production development, capital expenditures and working
capital.
The non-brokered portion includes a US$5,000,000 investment by
Amaran Biotechnology, Inc., a privately-held Taiwan biotech company
and biopharmaceuticals contract manufacturer.
"This financing is significant for Stellar on many fronts. This
strengthens our balance sheet at a pivotal time of Stellar's growth
while the investment from Amaran Biotechnology, Inc. represents
active support from life science industry," said Frank Oakes,
Stellar President and CEO. "We are very pleased to receive such
solid validation from both industry and new investors."
The Initial Closing included a brokered portion sold to
institutional and accredited investors totaling US$3,000,000
(2,857,143 Units) (the "Brokered Offering") and a non-brokered
portion totaling US$7,000,000 (6,666,667 Units) (the "Non-brokered
Offering").
Each Unit, sold for US$1.05, comprises one share of Stellar's
common stock and one half of a share purchase warrant (each whole
warrant, a "Warrant"). Each Warrant entitles the holder to purchase
one additional share of Stellar's common stock at a purchase price
of US$1.35 for a period of three years from the issuance date of
the Warrants. The Company anticipates a final closing on or before
September 20, 2013.
In connection with the Initial Closing of the Brokered Offering,
the placement agent received a commission of US$206,325 and 200,000
Warrants.
Subject to additional requirements imposed by the US Securities
Act requiring longer hold-periods on certain of the securities for
resale by US subscribers in the US market and a lock-up agreement
with certain holders of the securities, the securities issued in
the Initial Closing are subject to a hold period expiring January
10, 2014.
The securities sold by Stellar in the private placement were not
registered under the United States Securities Act of 1933, as
amended (the "US Securities Act"), and were sold in reliance upon
exemptions from the registration requirements of the US Securities
Act. Therefore, such securities may not be offered or sold in the
United States absent registration or an applicable exemption from
the registration requirements of the US Securities Act and any
applicable state securities laws. This press release does not
constitute an offer to sell any securities or a solicitation of an
offer to purchase any securities, nor shall there be any sale of
the securities in any state in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of such state.
About Stellar Biotechnologies, Inc.
Stellar Biotechnologies, Inc. (TSX
VENTURE: KLH) (OTCQB: SBOTF) is the world leader in sustainable
manufacture of Keyhole Limpet Hemocyanin (KLH). KLH is an important
immune-stimulating protein used in wide-ranging therapeutic and
diagnostic markets. KLH operates as both a vital component in many
active immunotherapies (targeting cancer, infectious diseases, and
immune disorders) as well as an antigen for measuring immune
status. Stellar Biotechnologies is unique in its proprietary
methods, facilities, and core KLH technology. We are committed to
meeting the growing demand for commercial-scale supplies of
high-quality KLH, ensuring environmentally sound KLH production,
and developing KLH-based active immunotherapies.
To receive regular updates, enter email at
http://stellarbiotechnologies.com/contact/
Visit www.StellarBiotech.com and the KLH
knowledge base www.KLHSite.com.
Forward-Looking Statements
There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Readers should not place undue reliance on such statements. Except
in accordance with applicable securities laws, the Company
expressly disclaims any obligation to update any forward-looking
statements or forward-looking statements that are incorporated by
reference herein. This news release does not constitute an offer to
sell, or a solicitation of an offer to buy any of the Company's
securities set out herein in the United States, or to, or for the
benefit or account of, a U.S. Person or person in the United
States.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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Contacts: Frank Oakes President and CEO Phone +1 (805)
488-2800 InvestorRelations@stellarbiotech.com Investor
Relations: MZ Group Mark A. McPartland Senior Vice President
Phone: +1 (212) 301-7130 markmcp@mzgroup.us Web: www.mzgroup.us
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