Bontan agrees to the general terms in a letter of intent

TORONTO, Feb. 6, 2013 /CNW/ - Bontan Corporation Inc. ('the Company") (OTCBB: BNTNF) ("Bontan") is pleased to announce that it has agreed to the general terms of a letter of intent  with the principals of a Biotech Corporation under which the said Corporation will be acquired through an exchange of shares.

The management of Bontan and the principals of the Biotech Corporation are now working to finalize the letter of intent and close the proposed transaction.

Due to confidentiality and legal reasons, we are unable to provide further details at this stage but expect to do so in due course.

About Bontan Corporation Inc:

Bontan Corporation Inc. recently concluded a settlement on its indirect oil and gas interest in Israel and now seeks business opportunities in the biotech sector.

Forward-Looking Statements

This news release includes forward-looking statements within the meaning of the U.S. federal and Canadian securities laws.  Any such statements reflect Bontan's current views and assumptions about future events and financial performance.  Bontan cannot assure that future events or performance will occur. Important risks and factors that could cause actual results or events to differ materially from those indicated in our forward-looking statements.

Bontan assumes no obligation and expressly disclaims any duty to update the information in this News Release.

SOURCE: Bontan Corporation Inc.

For further information:

Kam Shah, Chief Executive Officer of Bontan, at (416) 929-1806 and for investor relations contact John Robinson at (416) 860-0211.

Profil de l'entreprise

Bontan Corporation Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.