Allegiance Equity Corporation: Update on Trading Halt and License Agreement

David Solomon, President of Allegiance Equity Corporation (the "Company" or
"Allegiance")(TSX VENTURE:ANQ), wishes to inform its shareholders that trading
in the Company's shares was halted on April 14, 2009 due to the Company's
neglect in responding to correspondence from the TSX Venture Exchange ("TSXV")
with respect to certain affairs of the Company. The Company has addressed the
issues raised by the TSXV and the shares of the Company will resume trading on
May 26, 2009.


The Company further wishes to announce that Prime Pharmaceutical, a company
which Allegiance established and in which it holds a 37.4% equity interest, has
terminated its license agreement with Biofrontera AG whereby Prime
Pharmaceutical had licensed the worldwide rights to Relieva(R) and Psorerine(R)
to Biofrontera AG. The license agreement was terminated as a result of
Biofrontera AG failing to meet its obligations pursuant to the agreement. Prime
Pharmaceutical is in discussion with several potential licencees for Relieva(R).


Product and Intellectual Property

Prime invented psorberine, a proprietary concentrated extract from the Mahonia
Aquifolium plant. Psorberine is combined in a Novosome base to enhance delivery
of the cocktail of alkaloids in Mahonia. Relieva(R) has significant distinct
competitive advantages over existing treatments including the world's largest
selling psoriasis treatment that has estimated gross sales of $1 billion USD.


Other psoriasis treatments (including the leader) may lose their effectiveness
over time as the disease builds up tolerability. This is not the case with
Relieva(R). Relieva(R) has a "0" irritancy rating, no health risks or side
effects (whereas the leading treatment can be irritating to approximately 25% of
patients, which makes it difficult for them to use).


Current treatments such as ultra-violet light, lotions and creams containing
coal tar or steroids lack the combined efficacy and safety of Relieva(R).


No current treatment is totally satisfactory, and doctors and patients are all
looking for something that provides optimal effectiveness with a greater safety
profile. Psoriasis is an incurable skin disease that is characterized by rapid
cell proliferation and inflammation. It affects 3% of the world's population,
and The Medical Technology Stock Letter estimates the global market for
psoriasis therapies to exceed $7 billion annually.

(TSXV:ANQ)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024