Antibe Therapeutics Completes $2.27 Million Financing and Lists on the TSX Venture Exchange

TORONTO, ONTARIO--(Marketwired - June 18, 2013) -

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Antibe Therapeutics Inc. ("Antibe" or the "Corporation") (TSX VENTURE:ATE) is pleased to announce that it has closed its initial public offering (the "Offering") of common shares and listed such shares on the TSX Venture Exchange (the "Listing"). Pursuant to the Offering, Antibe issued 3,868,000 common shares, at a price of $0.55 per common share (the "Offering Price"), for gross proceeds of $2,127,400. In addition, Antibe completed a private placement to two investors pursuant to which it issued an aggregate of 282,000 common shares, at a price of $0.55 per common share, for gross proceeds of $155,100. The shares issued pursuant to the private placement are subject to a hold period that expires on October 19, 2013.

Burgeonvest Bick Securities Limited ("BBSL") acted as the lead agent and sole bookrunner for a syndicate of agents, which included Euro Pacific Canada Inc. (together with BBSL, the "Agents"). The Agents appointed a soliciting dealer group of other registered dealers, including Bloom Burton and Co. Inc. Pursuant to the Offering (and the sale of 182,000 shares pursuant to the private placement), the Agents received a commission of $222,750 and an aggregate of 405,000 options (each, an "Agent's Option"), with each option entitling the holder to purchase one common share, at the Offering Price, for a period of 24 months from the closing of the Offering. In addition, the Agents have been granted an over-allotment option, exercisable in whole or in part, for a period of 30 days from the closing of the Offering, to purchase up to an additional number of Common Shares equal to 15% of the number of Common Shares sold under the prospectus at the Offering Price.

Antibe's Chief Executive Officer, Dan Legault, stated: "We are excited to be moving forward with the prospects of bringing significant medical benefits to patients worldwide."

Concurrently with the closing of the Offering and the Listing, an aggregate of $790,000 principal amount convertible debentures of the Corporation, together with $22,300 in accrued but unpaid interest thereon, converted into an aggregate of 2,215,339 common shares. The common shares issued upon the conversion of the debentures are subject to a 4-month hold under TSX Venture Exchange policies, pursuant to which 20% of the shares were released on the closing of the Offering, and an additional 20% of the shares will be released each month thereafter (with the final release occurring on October 19, 2013).

The Offering is made only by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the final prospectus can be obtained from Burgeonvest Bick Securities Limited, attention: Ms. Vilma Jones, Managing Director, Head of Capital Markets, Syndication, telephone (647) 347-4488. Investors should read the prospectus before making an investment decision.

An electronic copy of the final prospectus filed in connection with the Offering is available on SEDAR at www.sedar.com.

About Antibe Therapeutics Inc.

Antibe Therapeutics Inc. originates, develops and out-licenses patent-protected new pharmaceuticals that are improved versions of existing drugs. These improvements are based on Nobel Prize-winning medical research highlighting the crucial role of gaseous mediators, which are chemical substances produced in the human body to regulate a range of fundamental cellular processes. The Corporation's drug design methodologies involve chemically linking an existing off-patent drug ("base drug") to an Antibe-patented, hydrogen sulfide-releasing molecule. For medical conditions characterized by inflammation, pain or vascular dysfunction, the Corporation's methodologies can efficiently produce improved versions of a number of existing drugs. Notably, Antibe's products are themselves fully patent-protectable and benefit from the predictable toxicity and effectiveness profiles of the base drug.

United States Advisory

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

Forward Looking Information

This press release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Antibe, including, without limitation, those listed under the headings "General Matters - Forward-Looking Statements" and "Risk Factors" in Antibe's final prospectus. Forward-looking information in this press release includes, but is not limited to, information concerning the Offering (including the terms of the Agent's Option and the exercise of the over-allotment option) and the shares issued upon the conversion of the debentures. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on these forward-looking statements. These forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, Antibe does not assume any obligation to update or revise them to reflect new events or circumstances.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.