Acquisition of Units of Helix BioPharma Corp.

NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES

TORONTO, Aug. 21, 2019 (GLOBE NEWSWIRE) -- Mr. Jerzy Wilczewski ("Mr. Wilczewski") announces that he has acquired 13,725,500 common shares and 13,725,500 common share purchase warrants of Helix BioPharma Corp. ("Helix"), representing an increase of approximately 10.40% of the issued and outstanding common shares of Helix on a non-diluted basis and an increase of approximately 17.61% of the issued and outstanding common shares of Helix, assuming the exercise of all common share purchase warrants of Helix that Mr. Wilczewski beneficially owns or exercises control or direction over. The securities were acquired by Mr. Wilczewski in connection with a private placement offering of units of Helix ("Units") at a price of $0.455 per Unit for aggregate consideration of $6,245,102.50. Mr. Wilczewski also acquired shares representing 25% of the outstanding shares of Helix's Polish subsidiary, Helix Immuno-Oncology S.A. ("HIO"), from Helix under the terms of the private placement. The aggregate consideration for the Units and the HIO shares totaled $7,000,005.

Immediately prior to the acquisition, Mr. Wilczewski beneficially owned or exercised control or direction over 5,891,653 common shares and  3,934,000 common share purchase warrants of the issuer, representing approximately 5.30% of the issued and outstanding common shares of Helix on a non-diluted basis and representing approximately 8.53% of the issued and outstanding shares of Helix, assuming the full exercise of all common share purchase warrants of Helix that Mr. Wilczewski beneficially owns or exercises control or direction over.

Immediately after the acquisition, Mr. Wilczewski beneficially owns or exercises control or direction over 19,617,153 common shares and 17,659,500 common share purchase warrants of Helix, representing approximately 15.70% of the issued and outstanding shares of Helix on a non-diluted basis and representing approximately 26.14% of the issued and outstanding shares of Helix, assuming the full exercise of all common share purchase warrants of Helix that Mr. Wilczewski beneficially owns or exercises control or direction over.

As a result of the acquisition of the Units, and assuming the exercise of the common share purchase warrants of Helix that Mr. Wilczewski beneficially owns or exercises control or direction over, he would potentially become a "control person" of Helix. Mr. Wilczewski has undertaken not to exercise his common share purchase warrants if such exercise would result in him owning 20% or more of Helix's outstanding common shares unless disinterested shareholder approval, or the approval of the Toronto Stock Exchange, has been obtained. Helix has advised Mr. Wilczewski that it intends to seek shareholder approval for the creation of Mr. Wilczewski as a control person at its annual general meeting to be held later this year.

The securities described herein were acquired for investment purposes. Mr. Wilczewski may increase or decrease his investment, directly or indirectly, in securities of Helix from time to time, depending on market conditions or any other relevant factors.

A copy of the report relating to this acquisition may be found on Helix's profile at www.SEDAR.com or may be obtained from Frank Michalargias, Helix's Chief Financial Officer, at 905-841-2300, x. 233. Mr. Wilczewski's address is Bia?ousy 51A, PL ? 16-130 Janów, Poland. Helix's head office is located at 9120 Leslie Street, Suite 205, Richmond Hill, Ontario, L4B 3J9.