Chromos announces timing of closing of Arrangement

    NORTH VANCOUVER, Sept. 23 /CNW/ - Chromos Molecular Systems Inc.
("Chromos" or the "Company") announced that the parties to the previously
announced plan of arrangement (the "Arrangement") involving, among others,
Chromos, Calyx Bio-Ventures Inc. ("Calyx"), a wholly-owned subsidiary of
Chromos, and Modatech Systems Inc. under section 288 of the Business
Corporations Act (British Columbia) have entered into an agreement to extend
the closing of the Arrangement as the parties continue to work towards the
satisfaction of related closing conditions. The closing of the Arrangement is
now currently scheduled to take place at the end of October 2008.

    Forward-Looking Statements

    Certain statements in this news release may contain "forward-looking
statements" or "forward-looking information" within the meaning of applicable
securities legislation. Often, but not always, forward-looking statements or
information can be identified by the use of words such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes"
or variations of such words and phrases or words and phrases that state or
indicate that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved. Such forward-looking
statements or information include, without limitation, statements or
information about the timing of the closing of the Arrangement. With respect
to forward-looking statements and information contained herein, we have made
numerous assumptions. Although our management believes that the assumptions
made and the expectations represented by such statements or information are
reasonable, there can be no assurance that a forward-looking statement or
information herein will prove to be accurate. Forward-looking statements and
information by their nature are based on assumptions and involve known and
unknown risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or industry results, to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include amongst
others the risks and uncertainties involved in satisfying the conditions to
close the Arrangement. Should one or more of these risks and uncertainties
materialize, or should the underlying assumptions prove incorrect, actual
results may vary materially from those described in forward-looking statements
and information.
    Although we have attempted to identify factors that may cause actual
actions, events or results to differ materially from those described in
forward-looking statements and information, there may be other factors that
cause actual results, performances, achievements or events to not be as
anticipated, estimated or intended. Also, many of the factors are beyond our
control. As actual results and future events could differ materially from
those anticipated in such statements and information, readers should not place
undue reliance on forward-looking statements or information. Except as may be
required by law, we undertake no obligation to publicly update or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise. All forward-looking statements and
information made herein are qualified by this cautionary statement.

For further information:

For further information: Roger Flowerdew, CA, CEO and President, (604)
985-7100, Email:

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