Arch Biopartners Completes Private Placement and Receives NRC Funding
February 25 2014 - 10:46AM
Marketwired
Arch Biopartners Completes Private Placement and Receives NRC
Funding
TORONTO, ONTARIO--(Marketwired - Feb 25, 2014) - Arch
Biopartners Inc ("Arch" or the "Company") (CSE:ACH)(OTCBB:FOIFF)
announced today it has raised $228,900 via a non-brokered private
placement of 817,500 Units at a price of $0.28 per Unit. Each Unit
comprises of one common share and one common share purchase
warrant. Each warrant allows the holder to purchase an additional
common share at $0.50 cents during the 24 month period following
the close of the private placement. The proceeds will be used for
the Company's working capital and general corporate purposes. The
common shares and any common shares issued from the exercise of the
warrants will be subject to a hold period of 4 months from the
closing date.
Arch also announced today that the National Research Council of
Canada - Industrial Research Assistance Program (NRC-IRAP) has
approved funding up to $91,000 to assist Arch in the development of
its bio-organic metal surfaces technology.
About Arch Biopartners
Arch Biopartners is a portfolio based biotechnology company
established to develop new products and technology for sale to
pharmaceutical and industrial companies.
For more information on the Company, please consult the other
public documents filed on SEDAR at www.sedar.com.
The Company's website address is: www.archbiopartners.com.
Forward-Looking Statements
All statements, other than statements of historical fact, in
this news release are forward looking statements that involve
various risks and uncertainties, including, without limitation,
statements regarding the future plans and objectives of the
Company. There can be no assurance that such statements will prove
to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. These and all
subsequent written and oral forward-looking statements are based on
the estimates and opinions of management on the dates they are made
and are expressly qualified in their entirety by this notice. The
Company assumes no obligation to update forward-looking statements
should circumstances or management's estimates or opinions
change.
The CNSX has not
reviewed and does not accept responsibility for the adequacy of
this release.
Arch Biopartners Inc.Richard MuruveCEO(647) 428
7031info@archbiopartners.comwww.archbiopartners.com
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