TORONTO, May 5 /CNW/ - Microbix Biosystems Inc. (TSX:MBX) Microbix is
pleased to announce it has agreed to extend the expiry date of 200,000
share purchase warrants (the "Warrants") and 28,000 broker's warrants
(the "Broker's Warrants") which were issued in connection with the
first tranche of Microbix's March 31, 2011 private placement.
Each Warrant entitles the holder to purchase one common share of
Microbix at a price of $0.45 until March 31, 2013 and each Broker's
Warrant entitles the holder to purchase one Unit at a price of $0.42
until March 31, 2013. Each Unit consists of one common share and one
half common share purchase warrant. Each whole warrant entitles the
holder to purchase one common share at a price of $0.45 for a period of
24 months. Microbix has applied to the TSX to extend the expiry date of
the Warrants and Broker's Warrants until April 19, 2013, then same
expiry date for the Warrants issued in the second tranche of the
private placement. The exercise price of the Warrants and Broker's
Warrants remains unchanged.
The holders of the Warrants and Broker's Warrants are at arm's length to
Microbix. The extension of the expiry dates of the Warrants and
Broker's Warrants is subject to TSX approval.
The effective date of the amendment will be on or after May 15, 2011.
SOURCE Microbix Biosystems Inc.
For further information:
Visit www.microbix.com or contact: William J. Gastle, CEO, (416) 234-1624 x 230; or James Long, CFO, (416) 234-1624 x 265.