Q BioMed Inc. (OTCMKTS:QBIO) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
Inc. Completes Final Closing on $4,000,000 Funding. A copy of the
press release is furnished herewith as Exhibit 99.1.
furnished and shall not be deemed filed for the purposes of
Section 18 of the Securities Exchange Act of 1934, or otherwise
subject to the liabilities of that section. The information in
this Item 7.01 of this Form 8-K also shall not be deemed to be
incorporated by reference into any filing under the Act or the
Securities Exchange Act of 1934, except to the extent that we
specifically incorporate it by reference.
29, 2016 and as amended on March 8, 2017, with an accredited
investor to place Convertible Debentures (the
Debentures) with a maturity date of one year after the
issuance thereof in the aggregate principal amount of up to
$4,000,000 in three separate tranches. We closed on the three
tranches as follows:
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on November 30, 2016, we sold $1,500,000 of Convertible
Debentures to the accredited investor, |
|
on March 10, 2017, we sold $1,000,000 of Convertible
Debentures to the accredited investor, and |
|
on April 7, 2017, we sold $1,500,000 of Convertible
Debentures to the accredited investor. |
principal and interest thereon may be converted at any time
on or prior to maturity at the lower of $4.00 or 93% of the
average of the four lowest daily VWAPs during the 10
consecutive trading days immediately preceding the conversion
date, provided that as long as we are not in default under
the Debenture, the conversion price may never be less than
$2.00. We may not convert any portion of a Debenture if such
conversion would result in the holder beneficially owning
more than 4.99% of our then issued and common stock, provided
that such limitation may be waived by the holder with 65 days
notice. To date, the holder of the Convertible Debentures has
converted $274,863 of principal and interest on the
Convertible Debentures into 84,640 shares of our common
stock.
|
99.1
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Press Release entitled Q BioMed Inc. Completes Final
Closing on $4,000,000 Funding, dated November April 10, 2017. |
About Q BioMed Inc. (OTCMKTS:QBIO)
Q BioMed, Inc., formerly ISMO Tech Solutions, Inc., is a biomedical acceleration and development company. The Company is focused on licensing, acquiring and providing strategic resources to life sciences and healthcare companies. The Company intends to acquire multiple assets over time and across a spectrum of healthcare related products, companies and sectors. The Company intends to develop these assets to provide returns through organic growth, out-licensing, sale or spin-off into new public companies. The Company holds license for a generic drug, Strontium Chloride (SR89). SR89 is a radiopharmaceutical agent and indicated for the treatment of pain associated with metastatic bone cancer. Its asset, MAN-01, is indicated for the treatment of glaucoma. MAN-01 is in pre-clinical stage. The Company is assessing multiple biomedical assets in various areas of healthcare and drug development. It is pursuing a pipeline of therapeutics, diagnostics and orphan drug candidates. Q BioMed Inc. (OTCMKTS:QBIO) Recent Trading Information
Q BioMed Inc. (OTCMKTS:QBIO) closed its last trading session down -0.16 at 5.04 with 173,647 shares trading hands.
