MONTREAL, CANADA--(Marketwire - February 28, 2008) - Paladin Labs Inc. (TSX: PLB), a leading Canadian specialty pharmaceutical company, today announced that it has received regulatory approval from the Toronto Stock Exchange (the “TSX”) to carry out a normal course issuer bid. Paladin has been authorized to purchase up to 786,000 of its common shares, or approximately 10% of its public float of 7,867,694 common shares as at February 15, 2008, in the twelve-month period following the bid’s effective date. The average daily trading volume for the 6-month period preceding February 1, 2008 is 9,314 shares. In accordance with the TSX requirements, a maximum daily repurchase of 25% of this average may be made, representing 2,328 common shares. As at February 15, 2008, Paladin had 14,802,776 common shares issued and outstanding.
