/NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES ORDISTRIBUTION TO
UNITED STATES NEWSWIRE SERVICES/
TORONTO, April 19 /CNW/ - Microbix Biosystems Inc. (TSX:MBX) ("Microbix"
or the "Company"), a biotechnology company focused on virology and
biological technologies, today announced the closing of the second
tranche of a private placement resulting in the issuance of 1,650,000
Units at a price of $0.35 per Unit. Each unit consists of one common
share of Microbix and one-half common share purchase warrant. Each
whole Warrant entitles the holder to purchase one additional common
share at an exercise price of $0.45 for 24 months. A director of the
Company participated in the financing by purchasing 650,000 Units.
The Company also paid commissions of $24,500 and issued 70,000 finder's
warrants, each finder's warrant entitles the holder to purchase a Unit
at a price of $0.42 per Unit for 24 months. The financing was
non-brokered. The Company intends to use the proceeds of the private
placement for general corporate purposes.
The securities issued in the private placement are subject to hold
period of four months and one day from the date of issue. The private
placement remains subject to the final approval of the Toronto Stock
The securities described herein have not been and will not be registered
under the United States Securities Act of 1933, as amended, and may not
be offered or sold in the United States or to a U.S. Person absent an
exemption from the registration requirements.
Microbix Biosystems Inc. specializes in the development of biological
technologies and commercializing them through global partners. The
Company has intellectual property in large market biotherapeutic drugs,
vaccine technologies and animal reproduction technologies. Established
in 1988, Microbix is headquartered in Toronto. This press release
contains forward-looking statements, which are subject to risks and
uncertainties that could cause actual results to differ materially from
those set forth in the forward-looking. These forward-looking
statements represent the Company's judgment as of the date of this
press release. The Company disclaims any intent or obligation to update
these forward-looking statements.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this release.
SOURCE Microbix Biosystems Inc.
For further information:
visit www.microbix.com or contact:
William J. Gastle, CEO, Microbix Biosystems Inc., (416) 234-1624 x 230;
James Long, CFO, Microbix Biosystems Inc., (416) 234-1624 x 265