VANCOUVER, Oct. 1 /CNW/ - Biotech Holdings Ltd. ("Biotech" or the
"Company", OTC BB: BIOHF; Frankfurt: 925970.F) The Board of Directors (the
"Board") has initiated a process to evaluate alternatives as a result of the
Company's major shareholder and creditor informing the Board that they will no
longer be available to fund the Company's operations. The process will
consider all options including finding alternate sources of financing and the
possible sale of the operating business. No decision has been made regarding
any specific alternative and there can be no assurance that this process will
lead to a refinancing or to any transaction.
The Board of Directors has appointed a sub-committee of the Board to
assist with this review.
Biotech Holdings Ltd. is based in Richmond, British Columbia. Biotech
Holdings shares trade on the Over the Counter Bulletin Board in the United
States (OTC BB: BIOHF).
This release has been approved by the Board of Directors of Biotech
Any statements made in this release that are not based on historical fact
are forward-looking statements. Any forward-looking statements made in this
release represent management's best judgement as to what may occur in the
future. However, actual outcome and results are not guaranteed and are subject
to certain risks, uncertainties and assumptions and may differ materially from
what is expressed.
For further information:
For further information: Gale Belding at Biotech Holdings Ltd., (888)
216-1111 (toll-free), 8 a.m. to 5 p.m. Pacific time, or by e-mail at
firstname.lastname@example.org. For background information, please visit Biotech's website