MONTREAL, March 20 /CNW Telbec/ - ProQuest Investments III, L.P., a
U.S.-based private venture capital fund, announces that effective March 20,
2007, it acquired ownership of 400,000 common shares of MethylGene Inc.,
representing approximately 1.09% of the issued and outstanding common shares
Following this transaction, ProQuest holds an aggregate of 3,492,428
common shares of MethylGene, representing approximately 9.56% of the issued
and outstanding common shares of MethylGene. ProQuest also holds warrants to
purchase 735,428 common shares of MethylGene. In the event that all of the
warrants are fully exercised, these holdings would represent approximately
11.34% of the total issued and outstanding common shares of MethylGene,
calculated on a partially diluted basis assuming the exercise of warrants
issued to ProQuest only.
The common shares were acquired for investment purposes only and ProQuest
could increase or decrease its investment in MethylGene depending on market
conditions or any other relevant factor.
For more details about ProQuest and its investments, please visit our
website at www.proquestvc.com.
For further information:
For further information: Joyce Tsang, Ph.D., ProQuest Investments, (514)
842-1625, fax: (514) 842-1379