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8-K - CURRENT REPORT - Sunshine Biopharma, Inc | sbfm_8k.htm |
Exhibit 99.7
For Immediate Release
September 5, 2017
SUNSHINE BIOPHARMA ENTERS INTO AN INVESTMENT BANKING AGREEMENT WITH
JITNEY TRADE TO RAISE UP TO $10 MILLION FOR CLINICAL TRIALS OF
Adva-27a ANTICANCER DRUG
Montreal,
Quebec, Canada -- (ACCESSWIRE) -- Sunshine Biopharma Inc. (OTC
Markets: “SBFM”), a pharmaceutical company focused on
the research, development and commercialization of drugs for the
treatment of various forms of cancer, today announced that it has
executed an investment banking agreement (the
“Agreement”) with Jitney Trade Inc.
(“Jitney”), a Canadian licensed broker-dealer,
headquartered in Montreal with offices in Toronto and Vancouver
(Canada). Per the Agreement, Jitney will act as the Company’s
exclusive placement agent in a proposed financing of up to $10
million Canadian in equity placements on a commercially reasonable,
“best efforts” basis. In addition, Jitney has agreed to
aid the Company and act as its sponsor in connection with the
listing of the Company’s Common Stock on the TSX Venture
Exchange (TSX-V) in Toronto, Canada.
The
proceeds will be used for implementation of the Company’s
business plan including the Generic Pharmaceuticals operations and
Clinical Development of Adva-27a, the Company’s flagship
anticancer compound. Tests conducted on the Company’s
Adva-27a have demonstrated the drug’s effectiveness at
destroying multidrug resistant cancer cells including Pancreatic
Cancer cells, Breast Cancer cells, Uterine Sarcoma cells and
Small-Cell Lung Cancer cells. Clinical trials for Pancreatic Cancer
indication are planned to be conducted at McGill University’s
Jewish General Hospital in Montreal, Canada.
In a
recent press release (June 26, 2017), the Company announced that it
had received an independent valuation report (the
“Report”) placing the en bloc Fair Market Value of the
Company’s issued and outstanding shares at March 31, 2017,
between $977 million and $1,133 million. The Company had
commissioned the Report as part of an obligation it had previously
made to investors. The majority of the value in the Report is
ascribed to Adva-27a and the ownership by the Company of the
worldwide patents associated therewith. If successful, management
of the Company believes the Jitney financing will be a significant
step forward towards helping the Company fully implement its
business plan.
Safe Harbor Forward-Looking Statements
To the extent that statements in this press release are not
strictly historical, including statements as to revenue
projections, business strategy, outlook, objectives, future
milestones, plans, intentions, goals, future financial conditions,
future collaboration agreements, the success of the Company's
development, events conditioned on stockholder or other approval,
or otherwise as to future events, such statements are
forward-looking, and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The forward-looking statements contained in this release are
subject to certain risks and uncertainties that could cause actual
results to differ materially from the statements made.
For Additional Information Contact:
Camille
Sebaaly, CFO
Sunshine
Biopharma Inc.
Direct
Line: 514-814-0464
camille.sebaaly@sunshinebiopharma.com
www.sunshinebiopharma.com