Sirona Biochem Corp. (TSX-V: SBM) (Frankfurt: ZSB) (Xetra: ZSB) announced today that it has closed an oversubscribed, non-brokered private placement for gross proceeds of $1,783,500. The private placement consists of 17,835,000 units, at a price of $0.10 per Unit.  Each Unit consists of one common share and one transferable share purchase warrant, each whole warrant is exercisable into one additional common share of the Company for a period of 3 years from the date of issue at a price of $0.16 per share.

All securities issued under the placement are subject to a statutory hold period expiring on June 27, 2019.

The Company compensated finders by way of cash fees of $62,136 and 621,360 warrants.

The financing consisted of participation by PRO-group member Shaun Chin of PI Financial, for 500,000 units, as well as two insiders. Dr. Howard Verrico, CEO, has participated with the purchase of 960,000 Units and Christopher Hopton, CFO, has participated with a purchase of 350,000 Units.

Net proceeds of the placement will be used for general working capital while the company continues its efforts toward licensing and commercialization of various pipeline products.

The Company also announced that it has granted incentive stock options under its Stock Option Plan to directors and officers of the Company for the purchase of up to 700,000 common shares at a price of $0.12 per share. Directors will receive 400,000 options at $0.12 with a 5 year expiry and Officers will receive 300,000 options at $0.12 with a 10 year expiry.

About Sirona Biochem Corp.

Sirona Biochem is a cosmetic ingredient and drug discovery company with a 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 in France and is the recipient of multiple French national scientific awards and European Union and French government grants.