Helix BioPharma closes private placement of 4,530,000 units

Helix BioPharma Corp. (TSX, FSE: "HBP" / Pink Sheets: HXBPF) today announced that it has closed a private placement of 4,530,000 units at $2.43 per unit.

Each unit consists of one common share and one common share purchase warrant, with each common share purchase warrant entitling the holder to purchase, subject to adjustment, one common share of the Company at a price of $3.402 for up to three years after the closing date of the private placement.  Net proceeds after expenses are expected to be approximately $9.5 million and will be used for working capital, primarily to support the Company's expanding clinical trial initiatives.

As a result of the placement, Mr. Zbigniew Lobacz has become an "insider" of Helix as he now holds more than 10% of Helix's outstanding common shares.  A separate news release is being issued by him in connection with this placement.

SOURCE Helix BioPharma Corp.