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Appili Therapeutics Announces Additional Funding of CAD$2.5 million under Non-Convertible Secured Loan with Long Zone Holdings

HALIFAX, Nova Scotia , March 20 /Businesswire/ - Appili Therapeutics Inc. (TSX: APLI; OTCQB: APLIF) (the “Company” or “Appili”), a biopharmaceutical company focused on drug development for infectious diseases and biodefense, today announced that it has entered into an amended and restated secured loan agreement (the “Amended Loan Agreement”) with Long Zone Holdings Inc. (“LZH”), amending and restating the original secured loan agreement by and between Appili and LZH dated March 25, 2022 (the “Original Loan Agreement”).

Pursuant to the terms of the Amended Loan Agreement, Appili and LZH have amended the Original Loan Agreement to provide Appili a second tranche loan in the amount of C$2.5 million (“Second Tranche Loan”) which supplements the first tranche of US$3.6 million advanced pursuant to the Original Loan Agreement (the “First Tranche Loan” and collectively with the Second Tranche Loan, the “Loan”). The Second Tranche Loan is expected to be funded on or about March 20, 2023 and will be used by Appili for working capital purposes.

The Loan matures on March 15, 2025 and will bear an interest rate of 11% per annum, subject to adjustment in the event that the prime lending rate in Canada and the United States increases. In addition a fixed percentage maintenance fee is also payable to LZH. Appili expects to receive net proceeds of approximately C$2.2 million from the Second Tranche (after deducting aggregate fees of approximately C$300,000, including in respect of an origination fee and amendment fee payable to LZH). LZH will also be issued 6,930,000 class A common share purchase warrants, exercisable for seven years, with a warrant exercise price of C$0.045.

The Loan will be secured against all of the assets and property of the Company pursuant to a general security agreement. The transaction contemplated under the Amended Loan Agreement has been conditionally approved by the Toronto Stock Exchange.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein. The securities offered have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons (as both such terms are defined in Regulation S promulgated under the U.S. Securities Act) absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

About Appili Therapeutics

Appili Therapeutics is an infectious disease biopharmaceutical company that is purposefully built, portfolio-driven, and people-focused to fulfill its mission of solving life-threatening infections. By systematically identifying urgent infections with unmet needs, Appili’s goal is to strategically develop a pipeline of novel therapies to prevent deaths and improve lives. The Company is currently advancing a diverse range of anti-infectives, including a vaccine candidate to eliminate a serious biological weapon threat, a topical antiparasitic for the treatment of a disfiguring disease, and a novel easy to use, liquid oral formulation targeting parasitic and anaerobic infections. Led by a proven management team, Appili is at the epicenter of the global fight against infection. For more information, visit

About Long Zone Holdings Inc.

Long Zone Holdings Inc. is based in Montreal, Canada and was founded by Jonathan Ross Goodman with his proceeds from the sale of Paladin Labs Inc. Long Zone Holdings Inc. is named for Jonathan’s 3 young children to reflect Long Zone’s investment horizon. Long Zone holds a number of significant positions in pharmaceutical and health related companies including specialty pharma Knight Therapeutics Inc. ( (TSE: GUD) IBS gut friendly privately held Fody Foods Company Inc. (, and secured debt in a privately-held U.S. generic manufacturer and distributor.

Forward looking statements

This news release contains “forward-looking statements”, including with respect to the timing of funding and the proposed use proceeds. Wherever possible, words such as “may “, “would”, “could “, “should”, “will,” “anticipate,” “believe,” “plan,” “expect,” “intend,” “estimate,” “potential for” and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those risks listed in the annual information form of the Company dated June 29, 2022 and the other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

STORY TAGS: Infectious Diseases, Biotechnology, Pharmaceutical, Health, Nova Scotia, Funding, North America, Canada,


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