Adamis Pharmaceuticals Announces Private Placement

SAN DIEGO, CA–(Marketwired – Jul 1, 2013) – Adamis
Pharmaceuticals Corporation (
OTCQB:
ADMP) announced today that it has
completed a private placement financing transaction pursuant to
which it issued senior secured convertible promissory notes and
warrants to purchase up to 13,004,316 shares of common stock, to a
small number of institutional investors and received gross cash
proceeds of $5,300,000. The notes have an aggregate principal
amount of $6,502,158, which includes $613,271 from the exchange of
a previously outstanding convertible note.

Net proceeds from this financing will be used to help fund the
continued operations of the company, advance some of the company’s
product candidates, and enable any potential future acquisition of
products, assets or technologies to bolster the company’s
pipeline.

“We believe this offering will be beneficial to our shareholders
as we strengthen our balance sheet and continue to move closer to
achieving the goals described in my May 3, 2013 letter to
shareholders,” said Dr. Dennis J. Carlo, CEO and President of
Adamis.

Additional information about the transaction is contained in the
company’s Form 8K filing with the Securities and Exchange
Commission.

About Adamis Pharmaceuticals Corporation

Adamis Pharmaceuticals Corporation is a biopharmaceutical
company engaged in the development and commercialization of
specialty pharmaceutical and biotechnology products in the
therapeutic areas of respiratory disease, allergy, oncology and
immunology. Adamis currently has three products in its specialty
pharmaceutical product pipeline, including the Epinephrine
Injection PFS syringe product for use in the emergency treatment of
anaphylaxis, APC-1000 for the treatment of asthma and chronic
obstructive pulmonary disease, and APC-3000, an HFA inhaled nasal
steroid product for the treatment of allergic rhinitis. The
Company’s biotechnology efforts are focused on the development of
therapeutic vaccine product candidates and cancer drugs for
patients with unmet medical needs in the multi-billion dollar
global cancer markets. Its products under research and development
include TeloB-VAX, a novel cell-based therapeutic cancer vaccine
and three drugs: and APC-100, APC-200, and APC-300, for the
treatment of prostate cancer.

Forward Looking Statements

This press release contains forward-looking statements. These
statements relate to future events or our future results of
operations or future financial performance, including, but not
limited to the following statements: the company’s beliefs
concerning the ability of its product candidates to compete
successfully in the market; the company’s beliefs concerning the
safety and effectiveness of its product candidates; the results of
any future clinical trials that the company may conduct relating to
its product candidates; the ability to fund future product
development; future revenues expected from any of its product
candidates, assuming that they are developed and approved for
marketing by the FDA and other regulatory authorities; and the
intellectual property protection that may be afforded by any
patents or patent applications relating to its products and product
candidates. Statements in this press release concerning future
events depend on several factors beyond the company’s control,
including receipt of adequate funding to support these activities,
market conditions, and the regulatory approval process. These
statements are only predictions and involve known and unknown
risks, uncertainties and other factors, which may cause Adamis’
actual results to be materially different from these
forward-looking statements. Certain of these risks, uncertainties,
and other factors are described in greater detail in Adamis’
filings from time to time with the SEC, which Adamis strongly urges
you to read and consider, all of which are available free of charge
on the SEC’s web site at
http://www.sec.gov. Except to the
extent required by law, Adamis expressly disclaims any obligation
to update any forward-looking statements.