Antibe Therapeutics Completes Final Tranche of IPO, Bringing Total Raise to the Maximum Offering of $3,000,000

TORONTO, ONTARIO--(Marketwired - Aug. 22, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS

Antibe Therapeutics Inc. ("Antibe" or the "Corporation") (TSX VENTURE:ATE) is pleased to announce that on August 22, 2013 it completed its third and final closing (the "Final Closing") under its initial public offering prospectus (the "Prospectus"), raising gross proceeds of $269,799.75 and issuing 490,545 common shares at a price of $0.55 per common share (the "Offering Price"). As previously announced: (i) on June 18, 2013 Antibe completed its first closing under the Prospectus raising gross proceeds of $2,127,400 and completed a contemporaneous private placement raising $155,100; and (ii) on August 14, 2013, and completed its second closing under the Prospectus, raising gross proceeds of $602,800. With the Final Closing Antibe has achieved the maximum offering of $3,000,000 under the Prospectus and accordingly distribution under the Prospectus has ceased.

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 Final Closing, the Agents received a commission of $26,979.98 and an aggregate of 49,054 options (each, an "Agent's Option"), with each Agent's Option entitling the holder to purchase one common share, at the Offering Price, for a period of 24 months from the Final Closing.

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 prospectus offering (including the terms of the Agent's Option). 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.