VANCOUVER, British Columbia, Aug. 01, 2025 (GLOBE NEWSWIRE) -- Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) (“Sirona”) wishes to provide shareholders with a critical update on the company’s financial position and recent corporate developments. The convertible debenture financing announced on April 22, 2025, did not attract sufficient investor participation to proceed successfully. This outcome reflects the challenges encountered during a similar financing one year prior. Over the past two years, Vancouver-b ...

Core Points - Sirona Biochem Corp. is conducting a non-brokered private placement offering of unsecured, convertible debentures with a total gross proceeds of up to $400,000 [1] - The offering will consist of Debenture Units priced at $1,000 each, with a face value of $1,120, including $1,000 principal and $120 prepaid interest [2] - The principal will accrue interest at a rate of 12% per annum, paid semi-annually, and can be converted into shares at a specified conversion price [2][3] - Each Unit from the offering will include one share and one non-transferable share purchase warrant, exercisable at $0.15 [4] - The company has the right to redeem the debentures after six months, with a redemption penalty of 8% of the face value [5] - The offering is subject to regulatory approvals and will have a four-month hold period under applicable securities laws [6] - Related parties may participate in the offering, which will be considered related party transactions [7] Company Overview - Sirona Biochem is focused on cosmetic ingredients and drug discovery, utilizing proprietary technology to stabilize carbohydrate molecules [10] - The company licenses its compounds to leading global companies, generating revenue through licensing fees, milestone fees, and ongoing royalties [11]

Core Insights - Sirona Biochem Corp. has successfully executed a strategic investment agreement with Promura GmbH, involving a private placement of $3 million CAD in unsecured, 12% convertible debentures [1] - The partnership includes the formation of Sirona Laboratories, a subsidiary focused on dermatological and cosmetic innovation, to be established in Luxembourg [2] - Promura intends to invest up to $12 million CAD into Sirona Labs, contingent on due diligence and specific conditions [3] Financial Details - The initial private placement proceeds will be allocated towards general working capital, ongoing research and development, and commercialization of Sirona's anti-aging product line [5] - Funds will also be used to complete overdue audited financial statements and annual Management's Discussion and Analysis, addressing a cease trade order issued by the British Columbia Securities Commission [5] - The financing is expected to close within 60 days, with plans for a smaller bridge financing to support the same objectives [5] Strategic Developments - The establishment of Sirona Laboratories will be responsible for the exclusive distribution of anti-aging products based on the TFC-1326 active ingredient [2] - The partnership with Promura will provide experienced personnel to manage operations, leveraging extensive industry expertise in cosmetics and dermaceuticals [3] - This collaboration is seen as a significant step forward in Sirona's growth and development, enhancing its market position and accelerating the commercialization of its product line [4]