Montreal, Quebec, Canada — (ACCESSWIRE) — Sunshine Biopharma Inc. (OTC Markets:
“SBFM”), a pharmaceutical company focused on the research, development and
commercialization of oncology and antiviral drugs, today announced that it has received the first
tranche of $250,000 as part of a committed minimum financing of $2 Million with RB Capital
Partners Inc. (“RB Capital”). Pursuant to the financing agreement entered into as of September
8, 2020, RB Capital has agreed to provide funding to the Company in the form of convertible
promissory notes (the “Promissory Notes”). The Promissory Notes will bear interest at the rate
of 5% per annum and will be fully convertible into shares of the Company’s Common Stock at a
conversion price equal to the market value of the Company’s Common Stock on the applicable
conversion date or $0.30 per share, whichever is greater. The Promissory Notes will have a
maturity date of two years from the date of issuance and must be fully converted on or before
the maturity date. Sunshine reserves the right to pay off any part or all of the Promissory Notes
at any time without penalty. The minimum amount of funding that RB Capital has agreed to
provide to the Company under these terms is $2,000,000, payable over the next three to six
month period.
The proceeds will be used for development of the Company’s recently announced Coronavirus
treatment on a priority basis and the clinical development of Adva-27a, the Company’s flagship
anticancer compound targeted for pancreatic cancer.
Sunshine Biopharma’s CFO, Camille Sebaaly stated, “We are extremely pleased to have forged
a relationship with RB Capital and believe that this is the beginning of a successful funding
partnership. We are now well positioned to continue with the development of our life saving
treatments with a funding partner alongside of us who sees the long-term vision of the
Company.”
About Sunshine Biopharma’s Coronavirus Treatment
Severe Acute Respiratory Syndrome-Coronavirus-2 (SARS-CoV-2) is the causative agent of
COVID-19, the current ongoing pandemic that has claimed the lives of over 920,000 people
worldwide since it first appeared in December 2019. There are currently no drugs that can
effectively arrest replication of the virus in people who have contracted the illness. On May 22,
2020, Sunshine Biopharma filed a provisional patent application for several molecules which
were designed by computer-aided modeling to inhibit the Coronavirus proteases, thus shutting
down the ability of the virus to multiply. More recently, Sunshine Biopharma announced that it
has completed the synthesis of four such molecules and is currently testing their inhibitory
activity on SARS-Cov-2 proteases in order to identify a lead compound for further development
as a specific drug for treatment of COVID-19.
About Sunshine Biopharma’s Adva-27a Anticancer Compound
In addition, to working on the development of a treatment for COVID-19, Sunshine Biopharma is
engaged in the development Adva-27a, a unique anticancer compound. Tests conducted to
date have demonstrated the effectiveness of Adva-27a at destroying Multidrug Resistant
Cancer Cells, including Pancreatic Cancer cells, Small-Cell Lung Cancer cells, Breast Cancer
cells, and Uterine Sarcoma cells. Clinical trials for Pancreatic Cancer indication are planned to
be conducted at McGill University’s Jewish General Hospital in Montreal, Canada. Sunshine
Biopharma is owner of all patents and intellectual property pertaining to Adva-27a.
Safe Harbor Forward-Looking Statements
This press release may contain forward looking statements which are based on current expectations, forecasts, and
assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ
materially from those anticipated or expected, including statements related to the amount and timing of expected
revenues statements related to our financial performance, expected income, distributions, and future growth for
upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by
the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain
events could differ materially from those projected in or contemplated by the forward-looking statements due to a
number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not
be able to sustain growth or achieve profitability based upon many factors including but not limited to general stock
market conditions. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC
filings. We have incurred and will continue to incur significant expenses in our expansion of our existing as well as
new service lines noting there is no assurance that we will generate enough revenues to offset those costs in both the
near and long term. Additional service offerings may expose us to additional legal and regulatory costs and
unknown exposure(s) based upon the various geopolitical locations we will be providing services in, the impact of
which cannot be predicted at this time.
For Additional Information Contact:
Camille Sebaaly, CFO
Sunshine Biopharma Inc.
Direct Line: 514-814-0464
camille.sebaaly@sunshinebiopharma.com
www.sunshinebiopharma.com
