MONTREAL, QUEBEC--(Marketwire - Aug. 22, 2008) - Adaltis Inc. (TSX:ADS) ("Adaltis"), an international in vitro diagnostic company, today announced its intention to complete a private placement with Clarity China Partners, L.P. and certain of its affiliates (collectively, "Clarity China") and FMRC Family Trust, a trust of which Dr. Francesco Bellini is a beneficiary ("FMRC" and, together with Clarity China, collectively the "Purchasers"). Under the terms of its agreement with the Purchasers, Adaltis has agreed to issue 10% senior secured convertible notes due in 2013 (the "Notes") with an issue price of Cdn.$20 million (the "Issue Price") and a stated redemption price at maturity of Cdn.$20.6 million, reflecting additional consideration to be paid to Clarity China for its participation in the financing. The Issue Price of the Notes will be provided to Adaltis in a first tranche (the "First Tranche") of Cdn.$16 million (Cdn.$15 million from Clarity China and Cdn.$1 million from FMRC) and a second tranche (the "Second Tranche") of Cdn.$4 million from Clarity China. The Notes will bear interest at 10% per annum and will mature five years from the date of issuance.
