Amorfix extends warrant term by one year



    TSX: AMF

    TORONTO, Feb. 20 /CNW/ - Amorfix Life Sciences Ltd. announced that it has
extended by one year the term of 4,462,521 common share purchase warrants (the
"Warrants"), which are exercisable for one common share of Amorfix at an
exercise price of $1.95 and were issued on March 8, 2007 as part of a private
placement.
    Amorfix has received TSX acceptance, subject to satisfying customary
conditions, to extend (the "Extension") the expiry date of the Warrants by one
year (from March 8, 2009) to March 8, 2010. The Extension is subject to an
earlier expiry in the event that the volume-weighted average price of
Amorfix's common shares on the TSX over a period of 10 consecutive trading
days exceeds $2.50, 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 effective date of the Extension will be from the current expiry date
of March 8, 2009.
    25,000 Warrants held by insiders are included in the Extension, subject
to disinterested shareholder approval under TSX policies. Amorfix intends to
seek such approval at its next AGM. Until Amorfix receives the required
disinterested shareholder approval of the Extension, the Warrants held by its
insiders cannot be exercised.

    About Amorfix

    Amorfix Life Sciences Ltd. (TSX:AMF) is a theranostics company developing
therapeutic products and diagnostic devices targeting brain-wasting diseases
including ALS, Alzheimer's Disease, Parkinson's Disease and variant
Creutzfeldt-Jakob Disease (vCJD). Amorfix's proprietary Epitope Protection(TM)
(EP) technology enables it to specifically identify very low levels of
aggregated misfolded proteins (AMP) in a sample of normal protein. Aggregated
misfolded proteins are a common element of many brain wasting diseases and the
ability to identify AMPs and understand their structure and mechanism of
folding are the first steps to developing new treatments for these devastating
diseases. 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