NovaDel Pharma Announces Stockholder Approval of Sale of Substantially All Assets to Suda Ltd.

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BRIDGEWATER, N.J.--(BUSINESS WIRE)--NovaDel Pharma Inc. (“NovaDel” or the “Company”) (OTC Pink: NVDL) announced today that, during the Special Meeting of the Company’s Stockholders held on July 19, 2013, its stockholders approved the sale of substantially all of the Company’s assets to Suda Ltd. (the “Suda Transaction”). However, approval for the liquidation and dissolution of the Company was not received by the requisite number of stockholders and therefore the proposal did not pass. Therefore, NovaDel will not file for dissolution at this time and will continue to pursue alternative avenues in order to maximize stockholder value.

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