BURNABY, BC, June 7 /CNW/ - Welichem Biotech Inc. (the "Company") (TSX-V:
WBI), is pleased to announce that it has closed its non-brokered private
placement announced on March 28, 2007.
The Company has raised gross proceeds of CDN $1,000,000 through the
issuance of 6,666,667 common shares. All securities issued under the private
placement will have a hold period expiring on October 9, 2007. Finder's fees
of $66,842.27 are payable in connection with the private placement.
The proceeds from the financing will be used by the Company to fund
research, development and working capital.
About Welichem Biotech Inc.
Welichem Biotech Inc. is a publicly-traded biotechnology company
developing therapeutic drugs in the fields of autoimmune diseases and cancer.
ON BEHALF OF THE BOARD
York Yingping Guo
President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
For further information:
For further information: Andrew Baren, Investor Relations, Tel.: (604)
432-1703 ext. 224, Email: email@example.com