Sign up
Pharma Capital

Q BioMed announces favourable amendment to debenture financing

The new maturity date has been extended to November 30, 2018
1507822082_biotechLatest.jpg
Q BioMed’s CEO, Denis Corin said: “We are pleased that this deal has worked out well for them and us and we will continue to work with them to secure the best outcome for both them and the rest of our shareholders.”

Q BioMed Inc (OTCMKTS:QBIO) said its funding partner, Yorkville Advisors has agreed to extend the maturity date on its US$2mln balance of the convertible note by one year.

The new maturity date has been pushed to November 30, 2018.

READ: Q BioMed says cancer pain drug will be available later this month

On November 29, last year, the biotech acceleration company entered into a securities purchase deal with Yorkville Advisors to place convertible debentures with a one-year term for US$4mln, with a 5% interest.

Q BioMed’s CEO, Dens Corin said: “We are pleased that this deal has worked out well for them and us and we will continue to work with them to secure the best outcome for both them and the rest of our shareholders.”

View full QBIO profile

Q BioMed Inc Timeline

View All

Related Articles

© biotech Capital 2017

Biotech Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed biotech companies to interact with institutional and highly capitalised investors.
Headquartered in London, Biotech Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Biotechnology market.