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Wednesday, 14 March 2018

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

FIT Biotech Oy    

Published: 14:30 CET 14-03-2018 /GlobeNewswire /Source: FIT Biotech Oy / : FITBIO /ISIN: FI4000148606

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

FIT Biotech Oy

Company release March 14, 2018 at 03:30 PM EET

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

Related to Convertible Note and Warrant Programmes established on December 22, 2017 between the FIT Biotech Oy ("Company") and Alpha Blue Ocean ("ABO") the Company's Board of Directors have resolved on March 14, 2018 to approve ABO's request relating to the funding programme to convert EUR 50,000 worth of Convertible Capital Notes into the Company's K shares.

Due to the conversion of the Convertible Capital Notes, the Company transfers 62,500,000 K shares owned by the Company to ABO with the conversion price of EUR 0.0008 per share and the reserve for invested unrestricted equity of the Company will be increased by EUR 50,000.00. The Board authorization is based on Extraordinary General Meeting December 14, 2017.

The Company holds 209,522,260 K shares after the issuance of these shares.

The K shares will be admitted to trading on First North Finland on or about March 19, 2018 after the directed share issue to the Company itself has been registered to the Trade Register.

After this transaction, and after all disclosed transactions have been registered to the Finnish Trade Register and listed on Nasdaq, FIT Biotech Oy has listed shares amounting to 699,709,428 K shares.


Board of Directors

For further information:
CEO Erkki Pekkarinen

Tel: +358 44 027 0080
E-mail: erkki.pekkarinen@fitbiotech.com

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.

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 Corporate Solutions clients. Source: FIT Biotech Oy, Biokatu 8, Tampere FI-33520, Finland
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