MONTREAL, June 30 /CNW Telbec/ - Adaltis Inc. (TSX: ADS), an
international in vitro diagnostic (IVD) company, wishes to provide an update
further to its last news release issued June 22, 2009.
As previously disclosed on June 22, 2009, Adaltis has been in discussions
with certain parties to provide additional financing in order to ensure
continuing operations beyond June 2009. As of date, no agreements with
potential investors have been reached nor is the Corporation confident any
additional financing will be available and the Corporation is presently
running out of monies to fund its operations. As a result, the Corporation is
presently assessing various alternatives, including a potential assignment in
There can be no assurance that any new financing will be provided to
Adaltis and it is unlikely that Adaltis will be able to continue as a going
concern without successfully raising additional financing through borrowings,
share issuances, sale of assets or otherwise. The outcome of these matters is
in large part beyond the Corporation's control and will likely be subject to a
number of conditions, some of which may not be favourable to the Corporation.
Caution Concerning Forward-Looking Statements
This news release may contain forward-looking statements within the
meaning of applicable Canadian securities legislation. These statements
include those relating to statements that are not historical facts, and
reflect the current intentions, plans, expectations and beliefs of Adaltis'
management. Such forward-looking statements reflect management's current
beliefs and are based on information currently available to management.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors outside of management's control. A number of factors could cause
actual results of Adaltis to differ materially from the results predicted in
the forward-looking statements, including, but not limited to, risks
associated with obtaining regulatory registrations, affecting our ability to
achieve our strategy in China and other emerging markets, the successful and
timely completion of our ongoing research and development efforts in
particular related to Eclectica(TM), the launch of new products, the
uncertainties of market factors and regulatory processes to which our business
is subject, the ability to recover the value of our holdings of asset-backed
commercial paper following the restructuring of the asset-backed commercial
paper market, and the availability and terms of any financing. For additional
information with respect to certain of these and other factors, refer to our
Annual Information Form under the heading "Risk Factors" filed with the
Canadian securities commissions.
The forward-looking statements contained in this news release represent
the expectations of Adaltis and its subsidiaries as at the date hereof and
accordingly are subject to change after such date. However, Adaltis and its
subsidiaries expressly disclaim any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable law.
About Adaltis Inc.
Adaltis is an international in vitro diagnostic company with a mission to
become a leading provider of in vitro diagnostic products in emerging markets,
with a particular focus on China.
With the strategic advantage of its "state of the art" reagent
manufacturing facility located in Shanghai, China, a complete IVD product
offering targeting emerging markets, and a strong international sales and
distribution platform, Adaltis is able to manufacture high-quality products in
a low-cost GMP environment, in order to service existing markets in Europe,
while providing a platform to penetrate the high-growth Chinese in vitro
Adaltis is headquartered in Montreal, with offices in China, Italy,
Mexico and other parts of the world.
For further information:
For further information: David Gardner, Executive Vice President and
Chief Financial Officer, Adaltis Inc., (514) 335-9922, ext. 228,