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Adherex Technologies Inc. (ADH) Announces Private Placement Of Units


11/15/2013 10:08:03 AM

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RESEARCH TRIANGLE PARK, NORTH CAROLINA--(Marketwired - Nov. 15, 2013) - Adherex Technologies Inc. (the "Company" or "Adherex") (TSX:AHX)(OTCQB:ADHXF) announced today that it intends to complete a non-brokered private placement (the "Offering") of 4,000,000 units for gross proceeds of US$1,600,000. Each unit (a "Unit") will be issued at a price of $0.40 per Unit and consist of one common share of the Company (the "Common Shares") and one common share purchase warrant (the "Warrants"). Each Warrant will entitle the holder thereof to acquire one common share of the Company at a price of US$0.50 per share for a period of five years from the date of issuance. The Warrants contain customary anti-dilution provisions, including adjustments upon the payment of a dividend in Common Shares; subdivision or combination of the Common Shares; or the issuance of rights, options or warrants to all or substantially all holders of the Common Shares. The current number of outstanding Common Shares of the Company, without giving effect to the Offering, is 25,157,618 (the "Undiluted Issued and Outstanding").

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