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EX-10.15 - FINANCING AGREEMENT WITH RB CAPITAL PARTNERS, INC. - Sunshine Biopharma, Inc | sbfm_ex1015.htm |
8-K - CURRENT REPORT - Sunshine Biopharma, Inc | sbfm_8k.htm |
Exhibit 99.1
For Immediate Release
September 15, 2020
SUNSHINE BIOPHARMA SECURES $2,000,000 + FINANCING
FOR CORONAVIRUS TREATMENT
Montreal,
Quebec, Canada -- (ACCESSWIRE) -- Sunshine Biopharma Inc. (OTC
Markets: “SBFM”), a pharmaceutical company focused on
the research, development and commercialization of oncology and
antiviral drugs, today announced that it has received the first
tranche of $250,000 as part of a committed minimum financing of $2
Million with RB Capital Partners Inc. (“RB Capital”).
Pursuant to the financing agreement entered into as of September 8,
2020, RB Capital has agreed to provide funding to the Company in
the form of convertible promissory notes (the "Promissory Notes").
The Promissory Notes will bear interest at the rate of 5% per annum
and will be fully convertible into shares of the Company’s
Common Stock at a conversion price equal to the market value of the
Company’s Common Stock on the applicable conversion date or
$0.30 per share, whichever is greater. The Promissory Notes will
have a maturity date of two years from the date of issuance and
must be fully converted on or before the maturity date. Sunshine
reserves the right to pay off any part or all of the Promissory
Notes at any time without penalty. The minimum amount of funding
that RB Capital has agreed to provide to the Company under these
terms is $2,000,000, payable over the next three to six month
period.
The
proceeds will be used for development of the Company’s
recently announced Coronavirus treatment on a priority basis and
the clinical development of Adva-27a, the Company’s flagship
anticancer compound targeted for pancreatic cancer.
Sunshine
Biopharma’s CFO, Camille Sebaaly stated, “We are
extremely pleased to have forged a relationship with RB Capital and
believe that this is the beginning of a successful funding
partnership. We are now well positioned to continue with the
development of our life saving treatments with a funding partner
alongside of us who sees the long-term vision of the
Company.”
About Sunshine Biopharma’s Coronavirus Treatment
Severe
Acute Respiratory Syndrome-Coronavirus-2 (SARS-CoV-2) is the
causative agent of COVID-19, the current ongoing pandemic that has
claimed the lives of over 920,000 people worldwide since it first
appeared in December 2019. There are currently no drugs that can
effectively arrest replication of the virus in people who have
contracted the illness. On May 22, 2020, Sunshine Biopharma filed a
provisional patent application for several molecules which were
designed by computer-aided modeling to inhibit the Coronavirus
proteases, thus shutting down the ability of the virus to multiply.
More recently, Sunshine Biopharma announced that it has completed
the synthesis of four such molecules and is currently testing their
inhibitory activity on SARS-Cov-2 proteases in order to identify a
lead compound for further development as a specific drug for
treatment of COVID-19.
About Sunshine Biopharma’s Adva-27a Anticancer
Compound
In
addition, to working on the development of a treatment for
COVID-19, Sunshine Biopharma is engaged in the development
Adva-27a, a unique anticancer compound. Tests conducted to date
have demonstrated the effectiveness of Adva-27a at destroying
Multidrug Resistant Cancer Cells, including Pancreatic Cancer
cells, Small-Cell Lung Cancer cells, Breast Cancer cells, and
Uterine Sarcoma cells. Clinical trials for Pancreatic Cancer
indication are planned to be conducted at McGill University’s
Jewish General Hospital in Montreal, Canada. Sunshine Biopharma is
owner of all patents and intellectual property pertaining to
Adva-27a.
Safe Harbor Forward-Looking Statements
This press release may contain forward looking statements which are
based on current expectations, forecasts, and assumptions that
involve risks as well as uncertainties that could cause actual
outcomes and results to differ materially from those anticipated or
expected, including statements related to the amount and timing of
expected revenues statements related to our financial performance,
expected income, distributions, and future growth for upcoming
quarterly and annual periods. These risks and uncertainties are
further defined in filings and reports by the Company with the U.S.
Securities and Exchange Commission (SEC). Actual results and
the timing of certain events could differ materially from those
projected in or contemplated by the forward-looking statements due
to a number of factors detailed from time to time in our filings
with the SEC. Among other matters, the Company may not be able to
sustain growth or achieve profitability based upon many factors
including but not limited to general stock market conditions.
Reference is hereby made to cautionary statements set forth in the
Company's most recent SEC filings. We have incurred and will
continue to incur significant expenses in our expansion of our
existing as well as new service lines noting there is no assurance
that we will generate enough revenues to offset those costs in both
the near and long term. Additional service offerings may
expose us to additional legal and regulatory costs and unknown
exposure(s) based upon the various geopolitical locations we will
be providing services in, the impact of which cannot be predicted
at this time.
For Additional Information Contact:
Camille
Sebaaly, CFO
Sunshine
Biopharma Inc.
Direct
Line: 514-814-0464
camille.sebaaly@sunshinebiopharma.com
www.sunshinebiopharma.com