Appili Therapeutics Announces Closing of Second Tranche of Non-Brokered Private Placement

Core Viewpoint - Appili Therapeutics Inc. has successfully closed the second tranche of a non-brokered private placement, raising gross proceeds of C$100,000 to support its drug development efforts for infectious diseases [1]. Group 1: Private Placement Details - The private placement involved the issuance of 4,000,000 units at a price of C$0.025 per unit, with each unit consisting of one Class A common share and one-half of a common share purchase warrant [2]. - Each whole warrant will allow the holder to acquire one common share at a price of C$0.05 for 36 months, pending shareholder approval [2][3]. - The company will seek shareholder approval for the warrants at the next Annual General Meeting, and if not approved, the warrants will not be exercisable [3]. Group 2: Use of Proceeds - The net proceeds from the private placement will primarily be used for working capital and to fund the development of certain product candidates [4]. Group 3: Broker Warrants - In connection with the closing, the company paid C$8,000 to finders and issued 320,000 broker warrants, which will allow holders to acquire common shares at a price of not less than C$0.02834 for 24 months, also subject to shareholder approval [4][5]. - Similar to the common warrants, the broker warrants will not be exercisable until shareholder approval is obtained [5]. Group 4: Company Overview - Appili Therapeutics is focused on developing therapies for life-threatening infections, with a portfolio that includes an FDA-approved treatment for antimicrobial resistant infections and a vaccine candidate for tularemia [7]. - The company aims to strategically develop a pipeline of novel therapies to address urgent infections with unmet needs [7].