VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 29, 2009) - Forbes Medi-Tech Inc. (TSX: FMI)(NASDAQ: FMTI) (“Forbes” or “Company”) announced that the Company has monetized its interest in its former subsidiary previously known as “Forbes Medi-Tech Operations Inc.” or “3887685 Canada Inc.”, which was subsequently renamed “Deans Knight Income Corporation”.
As a result, Forbes has received net proceeds, after certain adjustments pursuant to the terms of its earlier Non-Dilutive Funding Transaction, of approximately CDN $789,000. Forbes divested its remaining interest in Deans Knight Income Corporation to Matco Capital Ltd.
The Non-Dilutive Funding Transaction was originally announced on March 20, 2008, with the subsequent closing announced on May 12, 2008. With the receipt of these funds, the Non-Dilutive Funding Transaction has now been completed.
About Forbes Medi-Tech
Forbes Medi-Tech Inc. (TSX: FMI)(NASDAQ: FMTI) is a life sciences company focused on evidence-based nutritional solutions. A leader in nutraceutical technology, Forbes is a provider of value-added products and cholesterol-lowering ingredients for use in functional foods and dietary supplements. Forbes successfully developed and commercialized its Reducol™ plant sterol blend, which has undergone clinical trials in various matrices and has been shown to lower “LDL” cholesterol levels safely and naturally. Building upon established partnerships with leading retailers and manufacturers across the globe, Forbes helps its customers to develop private label and branded products. For more information about Forbes Medi-Tech, please visit www.forbesmedi.com.
Contacts:
Forbes Medi-Tech Inc.
Jodi Regts
Director, Investor Relations and Communications
(604) 681-8976 ext. 262
E-mail: jregts@forbesmedi.com
www.forbesmedi.com
