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Friday, 17 February 2017

FIT Biotech Oy: Conversion of FIT Biotech Oy's Convertible Notes into shares

FIT Biotech Oy    

Published: 09:00 CET 17-02-2017 /GlobeNewswire /Source: FIT Biotech Oy / : FITBIO /ISIN: FI4000148606

FIT Biotech Oy: Conversion of FIT Biotech Oy's Convertible Notes into shares

FIT Biotech Oy

 

Company release February 17, 2017 at 10:00 am

 

Conversion of FIT Biotech Oy's Convertible Notes into shares

 

Related to Convertible Note and Warrant Programmes established on September 26, 2016 between the Fit Biotech Oy ("Company") and Bracknor Investment ("Bracknor") the Company's board of directors has today resolved to approve Bracknor's request relating to the funding programme to convert EUR 60,000 worth of Convertible Notes into the Company's K shares.

 

Due to the conversion of the Convertible Notes, the Company issues 748,549 new K shares in the Company to Bracknor with the conversion price of EUR 0.080155 per share.

 

As a result of the issue of the new K shares in the Company, the total number of shares in the Company will increase to 47,715,727 shares, and the share capital of the Company will be increased by EUR 59,999.95. After the issue of the new K shares in the Company, the Company's shares will be divided in share series as follows: 47,645,263 K shares, 5,229 A shares and 65,235 D shares.

 

The increase of the share capital and new K shares in the Company will be registered in the Trade Register on or about February 20, 2017 and the new K shares will be admitted to trading on First North Finland on or about February 22, 2017.

 

FIT BIOTECH OY

 

Board of Directors

 

For further information:

Chairman of the Board of Directors Juha Vapaavuori

E-mail: juha.vapaavuori@fitbiotech.com

Tel: +358 50 372 0824

 

Certified Advisor: Aalto Capital Partners Oy, tel. +358 40 587 7000

 

About FIT Biotech

FIT Biotech Oy is a biotechnology company established in 1995. The company develops and licenses its patented GTU® (Gene Transport Unit) vector technology for new-generation medical treatments. GTU® is a gene transport technology that meets an important medical challenge in the usability of gene therapy and DNA vaccines.

 

FIT Biotech applies GTU® technology in its drug development programmes. Application areas include cancer (gene therapy) and infectious diseases such as HIV and tuberculosis, as well as animal vaccines.

 

FIT Biotech shares are listed on the First North Finland marketplace maintained by Nasdaq Helsinki Oy.

 

DISTRIBUTION:

NASDAQ OMX Helsinki

Principal media





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: FIT Biotech Oy, Biokatu 8, Tampere FI-33520, Finland
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