Aptose Biosciences Inc. announced that it has entered into binding term sheet with Hanmi Pharmaceutical, Inc. to issue common shares for the gross proceeds of $7,000,000 on August 10, 2023. The Company anticipates that the first tranche for $3,000,000 will close by the end of August, subject to the satisfaction of customary closing conditions. The second tranche for up to $4,000,000 or a maximum of 19.99 percent ownership interest will be triggered upon the company on achieving certain manufacturing and data milestones related to tuspetinib, to be described in greater detail in definitive documentation and anticipated to be achieved by year-end.

The investment is conditional upon the Company receiving the conditional approval of the Toronto Stock Exchange to list the Common Shares on the TSX. Listing will be subject to satisfying all of the requirements of the TSX.