Antibe Therapeutics Reports 2018 Year-End Financial and Operating Results

Biotech Week |

By a News Reporter-Staff News Editor at Biotech Week -- Antibe Therapeutics Inc. ("Antibe" or the "Company") (TSXV: ATE, OTCQB: ATBPF) filed its financial and operating results on for the fourth quarter and the year ended . The Company's audited 2018 consolidated financial statements, MD&A and AIF are available on SEDAR (see also Antibe Therapeutics Inc.).

In addition, the Company's wholly-owned subsidiary, Citagenix Inc. ("Citagenix"), has augmented its access to working capital to support its growth strategy in the dental regenerative medicine market. Specifically, Citagenix has replaced its existing operating line facility with a larger $2.25 million secured revolving credit facility (the "Credit Facility") provided by the Bloom Burton Healthcare Lending Trust ("BBHLT"). The Credit Facility will provide additional working capital and financial flexibility as Citagenix continues to execute upon its key growth initiatives, including the expansion of its product portfolio and enhancement of its distribution through new channels.

The Credit Facility matures on . Amounts outstanding under the Credit Facility bear interest rate of 7% per annum, payable quarterly. The obligations of Citagenix under the Credit Facility are secured against all of the assets of Citagenix, and are guaranteed by the Company. In connection with the Credit Facility, the Company agreed to issue to BBHLT 578,572 common shares in the capital of the Company ("Common Shares") at a deemed issue price of $0.385 per Common Share, subject to TSX Venture Exchange approval. The Common Shares will be subject to a statutory hold period of four months and one day from the date of issuance.

Keywords for this news article include: Antibe Therapeutics Inc., Business, Investment and Finance, Biopharmaceutical Companies, Healthcare Biotechnology Companies.

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