Full Press Release Details
Therapeutics Announces $5 Million Offering
At-the-Market Under Nasdaq Rules
and VANCOUVER, British Columbia, Oct. 01, 2024 (GLOBE NEWSWIRE) -- BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXW) (TSX: BCT) ("BriaCell"
or the "Company"), a clinical-stage biotechnology company that develops novel immunotherapies to transform cancer care, today
announced the pricing of a best-efforts offering of 5,128,500 common shares and warrants to purchase up to 5,128,500 common shares at
a combined offering price of $0.975 per share and associated warrant, priced at-the-market under Nasdaq rules. The warrants will have
an exercise price of $0.85 per share and will be immediately exercisable upon issuance for a period of five years following the date
of issuance. All of the common shares and associated warrants in the offering are being offered by the Company. Total gross proceeds
from the offering, before deducting the placement agent's fees and other offering expenses, are expected to be approximately $5
million. The offering is expected to close on October 2, 2024, subject to satisfaction of customary closing conditions. The Company is
relying upon the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards
to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq.
Company intends to use the net proceeds from the offering for working capital requirements, general corporate purposes, and the advancement
of business objectives.
is acting as sole placement agent for the offering.
securities described above are being offered and sold by the Company pursuant to a shelf registration statement on Form S-3 (File No.
333-276650), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the "SEC") on January 22,
2024 and declared effective on January 31, 2024. The offering is being made only by means of a written prospectus. A final prospectus
supplement and accompanying prospectus relating to the offering will be filed with the SEC and can be accessed for free on the SEC's
website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained,
when available, from the offices of ThinkEquity, 17 State Street, 41 st Floor, New York, New York 10004.
press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
BriaCell Therapeutics Corp.
is a clinical-stage biotechnology company that develops novel immunotherapies to transform cancer care. More information is available
This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties.
All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking
statements contained in this press release may be identified by the use of words such as "anticipate," "believe,"
"contemplate," "could," "estimate," "expect," "intend," "seek,"
"may," "might," "plan," "potential," "predict," "project," "target,"
"aim," "should," "will," "would," or the negative of these words or other similar expressions,
although not all forward-looking statements contain these words. Forward-looking statements are based on BriaCell's current expectations
and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Further, certain forward-looking statements
are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described
more fully under the heading "Risks and Uncertainties" in the Company's most recent Management's Discussion and
Analysis, under the heading "Risk Factors" in the Company's most recent Annual Information Form, and under "Risks
and Uncertainties" in the Company's other filings with the Canadian securities regulatory authorities and the U.S. Securities
and Exchange Commission, all of which are available under the Company's profiles on SEDAR+ at www.sedarplus.ca and on EDGAR at
www.sec.gov. There can be no assurance that BriaCell will be able to complete the offering on the anticipated terms, or at all.
Forward-looking statements contained in this announcement are made as of this date, and BriaCell Therapeutics Corp. undertakes no duty
to update such information except as required under applicable law.
the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange)
accepts responsibility for the adequacy or accuracy of this release.
William V. Williams, MD