Amorfix announces private placement



    
    /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
    SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

    TSX: AMF
    

    TORONTO, April 24 /CNW/ - Amorfix Life Sciences Ltd., a company focused
on treatments and diagnostics for misfolded protein diseases, today announced
an offering of up to $3 million in units (Units) on a non-brokered private
placement basis.
    Amorfix will use the net proceeds to advance the development and
commercialization of its diagnostic and therapeutic programs including its
EP-vCJD(TM) blood screening assay and for general corporate purposes.
    The Units are being offered at a price of $0.65 per Unit and each Unit
will consist of one common share and one-half of one common share purchase
warrant (Warrant). Each whole Warrant will entitle the holder to purchase one
common share of Amorfix at a price of $1.00 for a period of 24 months
following the closing date of the offering. The Warrants are subject to
earlier expiry in the event that, following the expiry of the four month hold
period, the volume-weighted average price of Amorfix's Common Shares on the
TSX over a period of 10 consecutive trading days exceeds $1.20, in which case
Amorfix may give notice to holders to accelerate the expiry to a date which is
not less than 30 calendar days after such notice is sent to the holders.
    The securities may be issued in one or more closings and will be subject
to a four-month hold period from the date of each closing. Closing is subject
to Toronto Stock Exchange acceptance.
    The securities offered 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 absent registration or any applicable exemption
from the registration requirement of such Act. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.

    About Amorfix

    Amorfix Life Sciences Ltd. (TSX:AMF) is a theranostics company developing
therapeutic products and diagnostic devices targeting misfolded diseases
including neurodegenerative diseases and cancer. It has specific programs in
vCJD, ALS and Alzheimer's disease. Amorfix's proprietary Epitope
Protection(TM) (EP) technology enables it to specifically identify very low
levels of aggregated misfolded proteins (AMP) in a sample containing normal
protein. Aggregated misfolded proteins are a common element of many brain
wasting diseases and cancer. Amorfix has shown antibodies and vaccines to
misfolded proteins are therapeutic in preclinical animal models. Amorfix's
lead programs are a diagnostic blood screening test for vCJD and a therapy for
ALS.

    This information release may contain certain forward-looking information.
Such information involves known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements to be
materially different from those implied by statements herein, and therefore
these statements should not be read as guarantees of future performance or
results. All forward-looking statements are based on the Company's current
beliefs as well as assumptions made by and information currently available to
it as well as other factors. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date of this
press release. Due to risks and uncertainties, including the risks and
uncertainties identified by the Company in its public securities filings,
actual events may differ materially from current expectations. The Company
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.

    %SEDAR: 00022789E




For further information:

For further information: Dr. George Adams, President & Chief Executive
Officer, Amorfix Life Sciences Ltd., Tel: (416) 847-6959, Fax: (416) 847-6899,
george.adams@amorfix.com; James Parsons, Chief Financial Officer, Amorfix Life
Sciences Ltd., Tel: (416) 847-6929, Fax: (416) 847-6899,
james.parsons@amorfix.com

Organization Profile

Amorfix Life Sciences Ltd.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890