The K2 Principal Fund L.P. Acquires Units of Appili Therapeutics Inc

TORONTO, Feb. 20, 2020 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that on February 20th, 2020 it closed the purchase 2,655,000 units (each unit consisting of one Class A common share and one-half of a purchase warrant) of Appili Therapeutics Inc. (TSXV: APLI) of #21-1344 Summer Street Halifax NS, B3H 0A8.  Each unit was purchased at a price of $ 0.80 through the marketed offering for a total cost of $2,124,000. Each warrant expires on February 20, 2023 and has an exercise price of $1.10.

Prior to the recent acquisition, K2 held 1,163,117 common shares. After the acquisition, the partnership holds 3,818,117 common shares and 1,327,500 share purchase warrants, which expire on February 20, 2023 and have an exercise price of $1.10, assuming the exercise of the warrants, the Partnership would hold 5,145,617 common shares representing approximately 10.78% of the issued and outstanding common shares of Appili Therapeutics Inc.

K2 acquired the securities for investment purposes only and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over, or exercise its current rights to acquire, common shares or other securities of Appili Therapeutics Inc through market transactions, private agreements or otherwise. 

SOURCE The K2 Principal Fund L.P.

Dan Gosselin, The K2 Principal Fund L.P., [phone]