Sharp Therapeutics Announces Closing of Non-Brokered Private Placement

Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) announced it has closed a non-brokered private placement for aggregate gross proceeds of C$1,365,000 through the issuance of 1,500,000 common shares at C$0.91 per share. The net proceeds will be used for general working capital. William R. Newlin, a director and Chairman, subscribed for US$200,005.45 through his wholly owned entity, Newlin Investment Company 1, LLC. This participation is considered a related-party transaction, but the company is exempt from formal valuation or minority shareholder approval requirements under MI 61-101. The shares are subject to a four-month hold period and TSX Venture Exchange approval. No finder's fees were paid. Sharp Therapeutics is a preclinical-stage company developing small-molecule therapeutics for genetic diseases.