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Sunshine Biopharma, Inc. Announces Closing of $8.0 Million Private Placement Priced At-the-Market

 

MONTREAL, Canada, March 14, 2022 (GLOBE NEWSWIRE) — Sunshine Biopharma, Inc.
(NASDAQ: “SBFM” and “SBFMW”) (the “Company” or “Sunshine Biopharma”), a pharmaceutical
company focused on the research, development and commercialization of oncology and antiviral
drugs, today closed its previously announced private placement pursuant to a securities purchase
agreement entered into on March 10, 2022 with certain institutional and accredited investors.

In connection with the private placement, the Company issued (i) 2,301,353 shares of its Common
Stock together with investor warrants (“Investor Warrants”) to purchase up to 2,301,353 shares of
Common Stock, and (ii) 1,302,251 pre-funded warrants (“Pre-Funded Warrants”) with each PreFunded Warrant exercisable for one share of Common Stock, together with Investor Warrants to
purchase up to 1,302,251 shares of Common Stock. Each share of Common Stock and accompanying
Investor Warrant were sold together at a combined offering price of $2.22, and each Pre-Funded
Warrant and accompanying Investor Warrant were sold together at a combined offering price of
$2.219, priced at-the-market under Nasdaq rules.

The Pre-Funded Warrants are immediately exercisable, at a nominal exercise price of $0.001, and may
be exercised at any time until all of the Pre-Funded Warrants are exercised in full. The Investor
Warrants have an exercise price of $2.22 per share (subject to adjustment as set forth in the warrant),
are exercisable upon issuance and will expire five years from the date of issuance.
The Company received gross proceeds of approximately $8 million before deducting transaction
related expenses payable by the Company.


Aegis Capital Corp. acted as the Exclusive Placement Agent in connection with the offering.
Additional details regarding the offering will be available in a Form 8-K to be filed by the Company
with the U.S. Securities and Exchange Commission (the “SEC”).


The shares of common stock and warrants described above have not been registered under the
Securities Act of 1933, as amended, and may not be offered or sold in the United States absent
registration with the Securities and Exchange Commission (SEC) or an applicable exemption from
such registration requirements. The securities were offered only to accredited investors. Pursuant to a
registration rights agreement with the investors, the Company has agreed to file one or more
registration statements with the SEC covering the resale of the shares of common stock and the shares
issuable upon exercise of the warrants.


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 these securities in any state or other jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification under the securities laws of any such
state or other jurisdiction.


About Sunshine Biopharma
Severe Acute Respiratory Syndrome-Coronavirus-2 (SARS-CoV-2) is the causative agent of the
ongoing COVID-19 pandemic that has claimed the lives of over 6 million people worldwide since it
first appeared in December 2019. Sunshine Biopharma is working on the development of a treatment
for COVID-19 and has completed the synthesis of four potential inhibitors of PLpro and
subsequently identified a lead compound, SBFM-PL4. The Company is currently advancing the
development of SBFM-PL4 in collaboration with the University of Georgia, College of Pharmacy. In
addition, the Company recently signed a collaboration with the University of Arizona aimed at
assessing the efficacy of three University of Arizona PLpro inhibitors in mice.
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.


Cautionary Note Regarding Forward Looking Statements
This press release and statements of the Company’s management made in connection therewith
contain “forward-looking statements” (as defined in Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future
events. Words such as “may”, “could”, “expects”, “projects,” “intends”, “plans”, “believes”, “predicts”,
“anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended
to identify forward-looking statements. These statements involve known and unknown risks and are
based upon several assumptions and estimates, which are inherently subject to significant uncertainties
and contingencies, many of which are beyond the Company’s control. Actual results may differ
materially from those expressed or implied by such forward-looking statements. Factors that could
cause actual results to differ materially include, but are not limited to, the risk factors described in the
Company’s filings with the SEC. The Company’s SEC filings can be obtained free of charge on the
SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims
any obligations or undertaking to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company’s expectations with respect thereto
or any change in events, conditions, or circumstances on which any statement is based.


For Additional Information:
Sunshine Biopharma Media Contacts:
TraDigital IR
Direct Line: 917-633-8980
[email protected]


Sunshine Biopharma Inc. Contacts:
Camille Sebaaly, CFO
Direct Line: 514-814-0464
[email protected]
www.sunshinebiopharma.com