VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 30, 2008) - Inflazyme Pharmaceuticals Ltd. (NEX: IZP.H) announced today that it has closed in escrow a $300,000 non-brokered unit private placement (the "Offering") for 15,000,000 (3,750,000 post-consolidation) Units (the "Units"). Each Unit consists of one common share and one warrant to purchase a common share (a "Warrant"). The Units were priced at $0.02 ($0.08 post consolidation) per Unit. Each Warrant entitles the holder to acquire one common share at a price of $0.025 ($0.10 post-consolidation) for a period of 12 months. The warrants will not be eligible for listing.
