/NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES./
TORONTO, March 28, 2014 /CNW/ - Microbix Biosystems Inc. (TSX: MBX), an innovator of biological products and technologies, is pleased to announce it has made application to the TSX to extend the term of an aggregate of 2,990,641 common share purchase warrants (the "Warrants") which were issued in connection with Microbix' March 29, 2012 non-brokered private placement.
Each Warrant currently entitles the holder to purchase one common share of Microbix at a price of $0.40 until March 29, 2014. Microbix has applied to the TSX to extend the term of the Warrants and Finders Warrants to March 29, 2015.
The holders of the Warrants includes both insiders of Microbix and parties who are arm's length to Microbix. Insiders of Microbix will not be permitted to exercise their warrants unless and until disinterested shareholder approval is obtained. The extension to the term of the Warrants is subject to TSX approval.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
About Microbix Biosystems
Microbix Biosystems Inc. specializes in the development of biological solutions, including products for vaccine and diagnostics markets worldwide. The company owns intellectual property for an approved biological drug, a vaccine technology and an animal reproduction technology. Established in 1988, Microbix is headquartered in Toronto.
Microbix' pipeline of innovative technologies and products includes LumiSort® semen sexing technology for the livestock industry, Kinlytic®, a thrombolytic drug with several approved and potential applications including the treatment of life-threatening blood clots, and VIRUSMAX®, a proprietary technology for increasing virus yields in influenza vaccine manufacture.
This press release may contain 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 statements including the risks associated with litigation, operations in foreign jurisdictions, foreign currency and exchange rate risk, and risks of raising capital on acceptable terms or at all. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking information is inherently uncertain and the actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release. The Company is under no obligation to update or alter any forward-looking information.
Please visit www.sedar.com for recent Microbix Biosystems Inc. filings on its pipeline products and financial information.
SOURCE: Microbix Biosystems Inc.
For further information: Visit www.microbix.com or contact: Vaughn C. Embro-Pantalony, CEO, (905) 361-8910 (ext. 350) or Charles Wallace, CFO (905) 361-8910 (ext. 255).