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Amarantus BioScience Secures an Additional $1.4 Million in Financing Commitments
Date:1/31/2013

SUNNYVALE, Calif., Jan. 31, 2013 /PRNewswire/ -- Amarantus BioScience, Inc. (OTCQB: AMBS), a biotechnology company discovering and developing treatments and diagnostics for diseases associated with the neurodegeneration and apoptosis centered around its patented therapeutic protein MANF, today announced it has secured an additional $1.4 million of financing commitments through an amendment of the initial Convertible Note with Dominion Capital.  The original $600,000 note, dated November 14, 2012, was amended to a face value of $2,000,000 before deducting placement agent fees and other offering expenses.  Proceeds will be used to provide funding for Amarantus' lead asset Mesencephalic-Astrocyte-derived Neurotrophic Factor ("MANF"), the advancement of the Company's diagnostic platforms, and for general working capital. 

"With our recently reported positive efficacy data on MANF, and our newly acquired diagnostic platforms, this additional funding positions Amarantus to advance these assets for the potential treatment and diagnosis of Parkinson's disease and other apoptosis-related disorders," said Gerald E. Commissiong , President and CEO of Amarantus.  "This also provides us the opportunity to explore additional indications where our product candidates may be beneficial." 

In November 2012, Amarantus issued a Convertible Promissory Note to Dominion Capital, LLC in the principal amount of $600,000. On January 28, 2013, the note was amended to increase the principal amount of the note to $2,000,000.  The Note bears interest at the rate of ten percent (10%) per annum, is convertible into common stock at $0.10 per share, and is pre-payable at the company's option at any time. The financing commitments will be realized by Amarantus under the note in six separate tranches of $200,000 to $250,000, subject to certain milestone achievements. Dominion has agreed t
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SOURCE Amarantus Bioscience, Inc.
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