TORONTO, Dec. 12, 2012 /CNW/ - Bontan Corporation Inc. ("the Company",
"Bontan") (OTCBB: BNTNF) is pleased to announce a change in the focus
of the Company's business.
The Company is working with a group that is well recognized in the life
science sector. Specifically, the new focus will be in the
biotechnology industry (SIC code: 2834).
Bontan's management is working in conjunction with this team of life
science executives and is currently analysing information on a target
company in the biotech sector as a potential takeover candidate.
Mr. Kam Shah, CEO commented, "With the unlocking of the human genome and
other recent scientific breakthroughs, we believe there are compelling
opportunities in health care and therapeutics to create substantial and
sustainable shareholder value."
About Bontan Corporation Inc:
Bontan Corporation Inc. recently concluded a settlement on its indirect
oil and gas interest in Israel and now seeks business opportunities in
This news release includes forward-looking statements within the meaning
of the U.S. federal and Canadian securities laws. Any such statements
reflect Bontan's current views and assumptions about future events and
financial performance. Bontan cannot assure that future events or
performance will occur. Important risks and factors that could cause
actual results or events to differ materially from those indicated in
our forward-looking statements.
Bontan assumes no obligation and expressly disclaims any duty to update
the information in this News Release.
SOURCE: Bontan Corporation Inc.
For further information:
Kam Shah, Chief Executive Officer of Bontan at (416) 929-1806 and for investor relations contact John Robinson at (416) 860-0211.