Appili Therapeutics Announces Additional Bridge Loan from Bloom Burton & Co.

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NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES

HALIFAX, Nova Scotia, April 26, 2024 (GLOBE NEWSWIRE) — Appili Therapeutics Inc. (TSX: APLI; OTCPink: APLIF) (the “Pursue” or “Apili“), a biopharmaceutical company focused on developing infectious disease drugs and medical countermeasures, today announced that it has secured an additional $300,000 in bridge financing (the “Bridging loan“) from Bloom Burton & Co. Inc. (the “Lender“). The Bridge Loan is evidenced by a Grid Promissory Note in favor of the Lender pursuant to which further advances may be made from time to time as agreed by the Company and the Lender, subject to all necessary regulatory and third party approvals.

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The Bridge Loan will be used primarily for working capital and general administrative purposes and will bear interest at 10% per annum (accruing quarterly and capitalized against the principal loan amount). The principal amount of the Bridge Loan, together with all accrued and capitalized interest, will be due and repayable in full on the following date: (a) April 26, 2025; and (b) the occurrence of a Change in Control (as defined in the Bridge Loan) of the Company.

The Company may require additional financing prior to the completion of the proposed acquisition of the Company by Aditxt, Inc. (as announced on April 2, 2024) or as otherwise necessary to meet the Company’s obligations as they become due.

The lender is considered a “related party” of the company and the bridge loan is considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of minority shareholders in special transactions (“MI 61-101“). Pursuant to MI 61-101, the Company will file a material change report containing disclosures relating to the Bridge Loan in the Company’s profile on SEDAR+ at www.sedarplus.com. The Company filed the Material Change Report no more than 21 days before the expected closing date of the Bridge Loan because the details of the Bridge Loan were not resolved until close to closing and the Company wanted to close the Bridge Loan the next day in an expedited manner for business reasons. The Company relies on exemptions from the formal valuation and minority shareholder approval requirements pursuant to MI 61-101. The Company is exempt from the formal valuation requirement under Section 5.4 of MI 61-101 and relies on Section 5.5(a) of MI 61-101 because the fair market value of the transaction, to the extent that interested parties are involved, is not more than 25 % of the company’s market capitalization. In addition, the Company is exempt from the minority shareholder approval requirement pursuant to Section 5.6 of MI 61-101, relying on Section 5.7(a) of MI 61-101, because the fair market value of the transaction as it relates to interested parties is equal no more than 25% of the company’s market capitalization.

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This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein. The securities being offered have not been offered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or under applicable state securities laws and may not be offered or sold for the account or benefit of any person in the United States or US Persons (as both terms are defined in Regulation S under the US Securities Act) absent registration or an applicable Exemption from such registration requirements exists. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Appili Therapeutics

Appili Therapeutics is an infectious disease biopharmaceutical company purpose-built, portfolio-focused and human-focused to achieve its mission of solving life-threatening infections. By systematically identifying urgent infections with unmet needs, Appili’s goal is to strategically develop a pipeline of novel therapies to prevent deaths and improve lives. The Company is currently advancing a broad range of anti-infective products, including an FDA-approved finished suspension of metronidazole to treat antimicrobial infections, a vaccine candidate to eliminate a serious biological weapons threat, and a topical antiparasitic to treat a disfiguring disease. Led by a proven management team, Appili is at the epicenter of the global fight against infections. For more information, visit www.AppiliTherapeutics.com.

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Forward-Looking Information

This press release contains “forward-looking information,” including with respect to the planned use of proceeds. Whenever possible, words such as “may”, “would”, “could”, “should”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate” should be used. be used. “Potential for” and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the Company’s management’s current expectations regarding future growth, operating results, performance, and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, but not limited to, the Company’s ability to do so to repay the amount under the Bridge Loan, the completion of the proposed transaction with Aditxt, Inc. and the risks set forth in the Company’s annual information form dated June 23, 2023 and the Company’s other filings with Canadian securities regulators (which may be found at If one or more of these risks or uncertainties materialize, or if the assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may differ materially from those expressed in the statements contained herein any forward-looking statements contained in this press release may be expressed or implied. These factors should be carefully considered and potential investors should not place undue reliance on the forward-looking statements. The Company disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.

Media contact:
Jenna McNeil, corporate affairs and communications manager
Appili Therapeutics
E: [email protected]

Investor Relations Contact:
Don Cilla, Pharm.DMBA
Appili Therapeutics
E: [email protected]

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