ALDA Pharmaceuticals Corp.: Private Placement
08 Décembre 2010 - 10:38PM
Marketwired
ALDA Pharmaceuticals Corp. (TSX VENTURE: APH)(OTCQB: APCSF) (the
"Company" or "ALDA") announces that it is undertaking a
non-brokered private placement of up 2,000,000 units of the Company
(the "Units") at a price of $0.10 per Unit for proceeds to the
Company of up to $200,000. Each Unit will consist 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 24 months 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.
Certain insiders of the Company have been selling common shares
of ALDA through the facilities of the TSX Venture Exchange in
connection with this private placement and will reinvest up to
$175,000 of the proceeds in the private placement. Accordingly,
insiders of ALDA will be subscribing for over 25% of the offering,
constituting a related party transaction pursuant to Multilateral
Instrument 61-101 and TSX Venture Exchange Policy 5.9 which is
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.
The offering is being made on a private placement basis pursuant
to registration and prospectus exemptions of applicable securities
laws and is subject to acceptance by the TSX Venture Exchange. All
securities issued will be subject to a four month restricted period
and will bear a restrictive legend accordingly. Net proceeds from
the offering will be used for working capital purposes.
About ALDA Pharmaceuticals Corp.
ALDA is focused on the development of infection-control
therapeutics derived from its patented T36® 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.
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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: ALDA Pharmaceuticals Corp. Scott Young Investor
Relations 604-377-5781 or 604-5218300 Ext 203 604-521-8322 (FAX)
scott_young@aldacorp.com www.aldacorp.com
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