Sirona Biochem Announces Convertible Note Financing

VANCOUVER, BC—(Marketwired – January 31, 2017) – Sirona Biochem Corp. (TSX VENTURE: SBM) (FRANKFURT: ZSB) (XETRA: ZSB) announced today a non–brokered private placement (the “Private Placement”) of convertible notes (“Notes”) for gross proceeds of up to $600,000. Each Note will be convertible at the option of the holder into one common share of the company at a conversion price of $0.18 per share during the 18 month term of the Notes.

The Notes will mature in 18 months from the date of issuance and bear interest at the rate of 12% per annum, payable quarterly, until the Notes are converted or repaid. The company will be entitled to repay the principal amount of the Notes, together with accrued and unpaid interest, at any time commencing four months after the date of issuance, subject to giving the holders prior notice thereof to permit holders to convert during the notice period. The Notes are unsecured and transferable, subject to resale restrictions under applicable securities laws and TSX Venture Exchange requirements.

Sirona Biochem intends to use the net proceeds from the Private Placement for general working capital, and to support the company's efforts to secure a licensing agreement for its skin lightening compound, TFC–1067. The company is expecting to receive a term sheet for a licensing transaction for TFC–1067 in Q1 2017 but there can be no assurances that a licensing agreement will be entered into on terms acceptable to Sirona Biochem or at all. The Company may pay fees of 7% in cash to qualified finders.

All securities issued in connection with the private placement will be subject to a statutory hold period of four months commencing from the date of issuance of the Notes. Closing of the private placement is subject to customary conditions, including TSX Venture Exchange acceptance.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

In addition, the Company announces an extension to the term of 8,865,970 common share purchase warrants (the “Warrants”) originally issued on March 6, 2014. The warrants were issued as part of a private placement. The expiry dates will be extended as follows:

March 6, 2014

   
Number of Warrants: 8,865,970
Original Expiry Date of Warrants: March 6, 2017
New Expiry Date of Warrants: April 30, 2017
Exercise Price of Warrants: $0.20
   

All other terms of the Warrants will remain unchanged.

About Sirona Biochem Corp.

Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.

Sirona's compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona's laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward–looking statements. Forward–looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward–looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem's forward–looking statements due to the risks and uncertainties inherent in Sirona Biochem's business including, without limitation, statements about: a third party potential licensees of TFC–1067 may not deliver a term sheet to the company in Q1 2017 or at all; the company may not be able to negotiate a license agreement with a potential licensees of TFC–1067 on terms acceptable to Sirona Biochem; the progress and timing of its clinical trials are uncertain; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing products; unexpected adverse side effects or inadequate therapeutic efficacy of the company's or licensed products that could delay or prevent product development or commercialization; the scope and validity of patent protection for the company's or licensed products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward–looking statements except as required by law.

Hillard Heintze Closes Out 2016 with Robust Annual Growth of 33 Percent, a Vibrant New Fourth Practice and a Surge in its Workforce

CHICAGO, IL—(Marketwired – January 31, 2017) – Hillard Heintze announced today that its 2016 fiscal year, which ended on December 31, 2016, included excellent performance results and achievement of new record–setting internal benchmarks and milestones. “We have had another exceptional year,” says Chief Executive Officer Arnette Heintze, “one driven purely by organic growth and our team's disciplined and unwavering focus on continuing to build on our business's core fundamentals.”

  • Revenue for the year was 33 percent higher than 2015 and represented a cumulative annual growth rate (CAGR) of 72.9% since the firm's formation in 2004.
  • Due to a surge in demand and several back–to–back wins of large, multi–year contracts from Fortune 100 companies and major U.S. federal agencies, the company invested in its long–standing services in threat assessment and workplace violence prevention to create a fourth core area of focus — the Threat and Violence Risk Management Practice.
  • Hillard Heintze recruited and hired more people in 2017 than during any other year since inception, expanding its workforce by 38 percent — with extremely low turnover — through the hiring of 17 new team members.
  • After steady improvement over several years, the company's average proposal win rate rose to 67 percent across all four practices, including an average proposal win rate of 72 percent for the Security Risk Management Practice.
  • On December 31, 2016, the company's pipeline of new opportunities totaled $33,535,974.
  • During its first year of following up all completed projects with a brief Client Survey Questionnaire, the company achieved an average Client Satisfaction Rating (CSR) of 9.2 on a rating scale of 1 to 10, with 10 as the highest possible score.

The company has also continued to be recognized as a thought leader across all practice areas as evidenced by the number of invitations to speak and participate at industry–related and company events. These included invitations to speak at major industry events such as those hosted by ASIS International, the International Security Management Association (ISMA), Major League Baseball (MLB), the International Association of Chiefs of Police (IACP), the National Organization of Black Law Enforcement Executives (NOBLE), Financial Executives International (FEI), National Criminal Justice Association (NCJA), American Management Association (AMA) and Bureau of National Affairs (BNA), as well as new thresholds in the number of press mentions, press releases and published articles.

“This past year, 2016, was a tremendous success for us on so many levels,” says Heintze. “We have been building our capabilities since well before we were ranked as an Inc. 500–5000 awardee three years in a row and named by the Initiative for a Competitive Inner City's annual list of the 100 fastest–growing inner city firm in the United States. We have been aggressively recruiting and retaining top–tier talent, defining and refining our policies and practices, focusing obsessively on quality and recently, bringing many more efficiencies to our operations. We're really seeing that pay off now and have already begun executing our robust strategy for 2017.”

About Hillard Heintze
As one of the leading security risk management and investigations firms in the United States, Hillard Heintze protects people, performance, interests and reputations. The firm's core practices — Security Risk Management, Threat & Violence Risk Management, Investigations and Law Enforcement Consulting — provide insight, deliver assurance and instill confidence worldwide. Headquartered in Chicago, Hillard Heintze also has operations in Washington D.C., Maryland, Virginia, Florida, New York, Michigan and California as well as operating capabilities across North and South America, Europe, the Middle East, Africa, Russia and Asia.

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