SAN DIEGO, CA, June 15 /PRNewswire-FirstCall/ - Nventa Biopharmaceuticals Corporation announced today that it has received conditional approval from the TSX to extend the expiry date of the common share purchase warrants issued by the Company in its 2005 private placement financing on November 1, 2005 and December 13, 2005, to November 1, 2010. This extension will become effective on the later of 10 business days following the date of this press release or the entering into of a supplemental warrant indenture reflecting this warrant extension. The exercise price of these warrants remains unchanged at $0.50.
Warrant holders who are also insiders of the Company, including Gregory M. McKee the Company’s President and Chief Executive Officer and Robert Rieder, a member of the Board of Directors, have agreed to forego the extension of the expiry date and will not exercise the warrants acquired by them in the 2005 private placement financing after November 1, 2007.
Excluding the 238,333 warrants held by Mr. McKee and the 66,667 warrants held by Mr. Rieder pursuant to the 2005 private placement financing, the total number of warrants being affected by this extension is 3,138,332 out of 66,649,977 currently outstanding.
About Nventa Biopharmaceuticals Corporation:
Nventa is developing innovative therapeutics for the treatment of viral infections and cancer, with a focus on diseases caused by the human papillomavirus (HPV). The corporation is publicly traded on the Toronto Stock Exchange under the symbol NVN.
For more information about Nventa Biopharmaceuticals Corporation, please visit the Company’s website located at www.nventacorp.com.
CONTACT: Donna Slade, Director, Investor Relations, 9381 Judicial Drive, Suite 180, San Diego, CA, USA, 92121, Tel: (858) 202-4900, Fax: (858) 450-6849, dslade@nventacorp.com
Nventa Biopharmaceuticals Corporation
CONTACT: Donna Slade, Director, Investor Relations, 9381 Judicial Drive,Suite 180, San Diego, CA, USA, 92121, Tel: (858) 202-4900, Fax: (858)450-6849, dslade@nventacorp.com
