VANCOUVER, British Columbia, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Sirona Biochem Corp. (TSX-V:SBM) (FSE: ZSB) (OTC: SRBCF) (the "Company") is pleased to announce a non-brokered private placement of up to 10,000,000 units of the Company at a price of $0.10 CAD per Unit (a "Unit") for gross proceeds of up to CAD$1,000,000 (the "Private Placement"). Each Unit consists of one common share and one transferable share purchase warrant, each whole warrant exercisable into one additional common share of the Company for a period of 2 years from the date of issue at a price of $0.15 per Share in year one and $0.25 per Share in year two.

In connection with the Private Placement, the Company may pay finders' fees of up to 10% in cash and 10% in Finder Warrants (the “Finder’s Warrants”). Each Finder Warrant will entitle the holder to purchase one Share of the Company at any time for two years from the closing date of the Private Placement at a price of CAD$0.15 per Share in year one and CAD$0.25 per Share in year two.

The company intends to use the proceeds of the private placement for general working capital purposes.

The completion of the Private Placement is subject to customary conditions, including acceptance from the Toronto Stock Exchange Venture ("TSXV"). All securities issued will be subject to a hold period in accordance with TSXV and/or other regulatory requirements.

This announcement does not constitute an offer to sell or a solicitation of an offer to buy. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

The Company looks forward to the successful completion of this Private Placement, further fortifying its financial position to drive strategic initiatives and maintain its position at the forefront of innovative skincare solutions.

About Sirona Biochem Corp.

Sirona Biochem is a cosmetic ingredient and drug discovery company with proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.

Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees, and ongoing royalty payments. Sirona’s laboratory, TFChem, is located an hour north of Paris, France, and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.

For more information regarding this press release, please contact:

Investor Enquiries:

Christopher Hopton, CFO, 778-908-4734
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.