ValiRx PLC Convertible Loan Facility (7140N)
August 11 2017 - 2:00AM
UK Regulatory
TIDMVAL
RNS Number : 7140N
ValiRx PLC
11 August 2017
ValiRx Plc
("ValiRx" or "the Company" or "the Group")
Convertible Loan Facility
London, UK., 11 August 2017: ValiRx Plc (AIM: VAL), a clinical
stage biotechnology company, announces that it has drawn down
US$400,000 of the third tranche of its Convertible Loan Facility
(announced on 02 September 2016) with YA Global Master SPV Ltd
("Yorkville").
The Table below sets out a summary of the facility following the
conversion detailed above:-
Tranche Tranche Tranche Total
1 2 3
----------------------- --------------- --------------- ------------- ---------------
Par value of tranche US$1,250,000 US$1,250,000 US$1,250,000 US$3,750,000
----------------------- --------------- --------------- ------------- ---------------
Amount drawn down (US$1,250,000) (US$1,250,000) (US$400,000) (US$2,900,000)
----------------------- --------------- --------------- ------------- ---------------
Balance of tranche nil nil US$850,000 US$850,000
available for
drawdown
----------------------- --------------- --------------- ------------- ---------------
Total conversion US$1,209,905 nil nil US$1,209,895
/ repayment of
tranche into ordinary
shares
----------------------- --------------- --------------- ------------- ---------------
Balance of tranche US$40,095 US$1,250,000 US$400,000 US$1,690,105
outstanding
----------------------- --------------- --------------- ------------- ---------------
Each tranche has a maturity date of 12 months from the date of
drawdown. The Convertible Loan Notes bear an interest rate of 9 per
cent. per annum.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
*** ENDS ***
For more information, please contact:
ValiRx plc Tel: +44 (0) 20
3008 4416
www.valirx.com
Dr Satu Vainikka, Chief Executive Tel: +44 (0) 20
3008 4416
Tarquin Edwards, Head of Communications. Tel: +44 (0) 7879
458 364
tarquin.edwards@valirx.com
Cairn Financial Advisers LLP Tel: +44 (0) 20
(Nominated Adviser) 7213 0880
Liam Murray/Jo Turner/Richard
Nash
Beaufort Securities Limited Tel: +44 (0) 207
(Broker) 382 8300
Jon Belliss
Notes for Editors
About ValiRx
ValiRx is a biotechnology oncology focused company specialising
in developing novel treatments for cancer and associated
biomarkers. It aims to make a significant contribution in
"precision" medicine and science, namely to engineer a breakthrough
into human health and well-being, through the early detection of
cancer and its therapeutic intervention.
The Company's business model focuses on out-licensing
therapeutic candidates early in the development process. By aiming
for early-stage value creation, the company reduces risk
considerably while increasing the potential for realising value.
The group is already in licensing discussions with major players in
the oncology field.
ValiRx's two classes of drugs in development, which each have
the potential for meeting hitherto unmet medical needs by existing
methods, have worldwide patent filings and agreed commercial
rights. They originate or derive from Word class institutions, such
as Cancer Research UK and Imperial College.
Until recently, cancer treatments relied on non-specific agents,
such as chemotherapy. With the development of target-based agents,
primed to attack cancer cells only, less toxic and more effective
treatments are now possible. New drugs in this group-such as those
in ValiRx's pipeline-promise to greatly improve outcomes for cancer
patients.
The Company listed on the AIM Market of the London Stock
Exchange in October 2006 and trades under the ticker symbol:
VAL.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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