PHARMACYTE BIOTECH, INC. (OTCMKTS:PMCB) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On December 15, 2016, PharmaCyte Biotech, Inc., a Nevada
corporation (Company), entered into an amendment (Chardan
Amendment) to its previously disclosed financial advisory,
offering and at the market offering engagement agreement
(Engagement Agreement) with Chardan Capital Markets, LLC
(Chardan) to which the Company and Chardan have provided for the
extension of Chardans engagement to use its reasonable best
efforts to act as the Companys sales agent in connection with the
sale of the Companys common stock, $.0001 par value per share
(Common Stock) in at the market or privately negotiated
transactions of up to $50,000,000, depending upon market
conditions and at the discretion of the Company. The Chardan
Amendment also provides for the termination of the Engagement
Agreement for any reason, with or without cause, upon five days
written notice by either party and that Chardan will be entitled
to collect transaction fees with respect to any Common Stock or
other securities offered by the Company sold to any parties
introduced to the Company by Chardan within nine months following
the expiration or termination of the Engagement Agreement.
The foregoing description of the Engagement Amendment does not
purport to be complete and is subject to, and qualified in its
entirety by, the full text of the Engagement Amendment attached
hereto as Exhibit 10.1, which is incorporated herein by
reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| 10.1 |
Amendment to Engagement Letter between PharmaCyte Biotech, Inc. and Chardan Capital Markets, LLC dated December 15, 2016. |
About PHARMACYTE BIOTECH, INC. (OTCMKTS:PMCB)
PharmaCyte Biotech, Inc., formerly Nuvilex, Inc., is a clinical-stage biotechnology company focused on developing and preparing to commercialize treatments for cancer and diabetes based upon a cellulose-based live cell encapsulation technology known as Cell-in-a-Box. The Company’s Cell-in-a-Box technology will be used as a platform upon which treatments for various types of cancer, including advanced, inoperable pancreatic cancer, and diabetes will be developed. The Company is developing therapies for pancreatic and other solid cancerous tumors involving the encapsulation of live cells placed in the body to enable the delivery of cancer-killing drugs at the source of the cancer. It is also developing a therapy for Type I diabetes and insulin-dependent Type II diabetes based upon the encapsulation of a human cell line genetically engineered to produce, store and secrete insulin at levels in proportion to the levels of blood sugar in the human body using its Cell-in-a-Box technology. PHARMACYTE BIOTECH, INC. (OTCMKTS:PMCB) Recent Trading Information
PHARMACYTE BIOTECH, INC. (OTCMKTS:PMCB) closed its last trading session up +0.008 at 0.152 with 7,266,121 shares trading hands.