ProtoKinetix Announces Share Issuance 2:42 PM ET, 04/02/2015 - Business Wire
ST. MARYS, W. Va.--(BUSINESS WIRE)--Apr. 2, 2015-- ProtoKinetix, Incorporated (OTC: PKTX) (the "Company" or "Protokinetix") (www.protokinetix.com) is pleased to announce that it has completed a private placement (the “Offering”) for gross proceeds of $125,000. The Company has issued 2,500,000 shares of common stock at a price of $0.05 per share. One of the purchasers under the Offering is the President and Chief Executive Officer of the Company, Clarence E. Smith, who invested $75,000 for the purchase of 1,500,000 shares of common stock of the Company.
The securities offered pursuant to the Offering will not be registered under the United States Securities Act of 1933 (the “Securities Act”) and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.
ProtoKinetix, Inc. is a molecular biotechnology company that has developed and patented a family of hyper stable, potent glycopeptides (AAGP™) that dramatically enhance therapeutic results and reduce the cost of stem cell medicine. Due to the anti-inflammatory effect of AAGP™ molecules, the Company is currently targeting the direct treatment of diseases that have a major inflammatory component.
This press release shall not constitute an offer of securities in the United States or any other jurisdiction.The securities that may be issued pursuant to this press release are not currently qualified by prospectus or registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the laws of any state, and may not be offered or sold in the United States, or to, or for the account or benefit of United States persons (as defined in Regulation S under the Securities Act) or persons in the United States absent registration or an applicable exemption from the registration requirements.The securities are subject to resale restrictions under applicable securities laws.
Clarence E. Smith –President and CEO
Source: ProtoKinetix, Inc.
ProtoKinetix, Inc.Clarence E. Smith, President & Chief Executive Officer304firstname.lastname@example.org