TORONTO, Dec. 17 /CNW/ - Herbert Abramson, a director of Lorus Therapeutics Inc. ("Lorus"), announces that he has acquired, indirectly, through Technifund Inc., a corporation controlled by him, 553,730 common shares of Lorus at $1.03 per share. The acquisition of the shares represents approximately 3.5% of the outstanding common shares of Lorus. The shares were acquired pursuant to private agreements.
Upon completion of the acquisition, Mr. Abramson owns, directly or indirectly, 6,991,541 common shares of Lorus, representing approximately 44.6% of the issued and outstanding common shares of Lorus. In addition, Mr. Abramson owns stock options exercisable into 14,999 common shares and warrants exercisable into 3,883,592 common shares. If he were to exercise all of the options and warrants held by him, Mr. Abramson would own an aggregate of 10,890,132 common shares, representing approximately 55.6% of the then issued and outstanding common shares of Lorus (on a partially diluted basis, i.e., assuming no options and warrants were exercised by other holders).
The shares were acquired for investment purposes. Mr. Abramson reserves the right to acquire further securities of Lorus depending on market conditions and other relevant factors.
The common shares of Lorus trade on the Toronto Stock Exchange.
An early warning report in respect of the above noted transactions will be filed on SEDAR.
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