MONTREAL, QUEBEC--(CCNMatthews - Feb. 21, 2007) - Osta Biotechnologies Inc. (TSX VENTURE:OBI) is pleased to announce that it has engaged Notre-Dame Capital Inc. as its exclusive agent on a best-efforts basis, in a private placement of a maximum of 16,000,000 units at a price of $0.25 per unit, for maximum gross proceeds of $4.0 million. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at a price of $0.40 for a period of two years from the closing of the private placement. The issue price of $0.25 was negotiated by Osta and Notre-Dame Capital in the context of the market.
