ALDA Pharmaceuticals Closes Private Placement for Gross Proceeds of $327,500

ALDA Pharmaceuticals Corp. (TSX VENTURE:APH)(OTCQB:APCSF) (the "Company") is
pleased to announce that it has closed the private placement announced July
27th, 2010. A total of 3,275,000 Units of the Company were issued at a price of
$0.10 per Unit for gross proceeds of $327,500. All securities issued with
respect to the private placement will be subject to a hold period expiring on
January 8, 2011 in accordance with the policies of the TSX Venture Exchange and
applicable Canadian securities laws. 


Each Unit consists of one common share of ALDA and one non-transferable share
purchase warrant entitling the holder to acquire one additional common share of
ALDA at a price of $0.20 per common share for a period of two (2) years from the
date of the issuance of the purchase warrant with a forced exercise provision
attached to each warrant commencing on the day following the expiry of any
applicable hold period on the underlying Common Share, stating that if, for ten
consecutive trading days, the closing price of the listed shares of the Company
exceeds $0.40 then the exercise period of the warrants will be reduced to a
period of 10 days following such trading days. Net proceeds from the offering
will be used for working capital. 


The Company paid finders' fees of $2,250 (5% of the gross proceeds of $45,000)
to certain registrants with respect to the offering.


Insiders of ALDA subscribed for 677,500 Units on the same terms as arm's length
investors, constituting a related party transaction pursuant to Multilateral
Instrument 61-101 and TSX Venture Exchange Policy 5.9. Such Insider
participation was exempt from the requirement to obtain an independent valuation
pursuant to Section 5.5(b) of MI 61-101 and the requirement to obtain minority
shareholder approval pursuant to Section 5.7(1)(b) of MI 61-101.


About ALDA Pharmaceuticals Corp.

ALDA is focused on the development of infection-control therapeutics derived
from its patented T36(R) technology. The company trades on the TSX Venture
Exchange under the symbol APH and on the OTCQB under the symbol APCSF. The
Company was the Official Supplier to the Vancouver 2010 Olympic Winter Games and
the Vancouver 2010 Paralympic Winter Games and is the Official Supplier to the
Canadian Olympic Committee, the 2010 Canadian Olympic Team and the 2012 Canadian
Olympic Team for antiseptic hand sanitizer, disinfectant and disinfectant
cleaning products. The Company was also selected as one of the TSX Venture 50
companies in the Technology and Life Sciences sector for 2010.


Terrance G. Owen, Ph.D., MBA, President & CEO 

ALDA Pharmaceuticals Corp.

www.aldacorp.com

The Units, common shares, warrants and the common shares issuable upon exercise
of the warrants have not been registered under the United States Securities Act
of 1933 (the "Act") and may not be offered or sold absent registration under the
Act or an applicable exemption from the registration requirements thereof. This
news release does not constitute an offer to sell or a solicitation of an offer
to buy, nor shall there be any sale of these securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction or an
exemption therefrom.


Cautionary Note Regarding Forward-looking Statements: Information in this press
release that involves ALDA's expectations, plans, intentions or strategies
regarding the future are forward-looking statements that are not facts and
involve a number of risks and uncertainties. ALDA generally uses words such as
"outlook", "will", "could", "would", "might", "remains", "to be", "plans",
"believes", "may", "expects", "intends", "anticipates", "estimate", "future",
"plan", "positioned", "potential", "project", "remain", "scheduled", "set to",
"subject to", "upcoming", and similar expressions to help identify
forward-looking statements. The forward-looking statements in this release are
based upon information available to ALDA as of the date of this release, and
ALDA assumes no obligation to update any such forward-looking statements.
Forward-looking statements believed to be true when made may ultimately prove to
be incorrect. These statements are not guarantees of the future performance of
ALDA and are subject to risks, uncertainties and other factors, some of which
are beyond its control and may cause actual results to differ materially from
current expectations.
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