Ondine Biopharma Corporation Closes $1 Million Brokered Private Placement

Ondine Biopharma Corporation (the "Company") is pleased to announce that it has closed on its previously announced brokered private placement of 1,000,000 common shares (the "Shares") at a price of $1.00 per share for gross proceeds of $1,000,000. The Shares are subject to a four-month hold period expiring September 12, 2004.
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