MONTREAL, QUEBEC--(CCNMatthews - Jan. 10, 2006) - ProMetic Life Sciences Inc. (“ProMetic”)(TSX:PLI.SV) announces the closing of a US$8 million financing. The Company issued senior secured convertible notes in the aggregate principal amount of US$10 million for aggregate proceeds of US$8 million to be used for general corporate purposes. During the first eight months following the closing, only one half of the principal amount of the notes will be convertible by their respective holders into subordinate voting shares at the conversion price of US$0.27. After that period, the outstanding principal amount of the notes will be convertible at the same conversion price. The term of the loan is 36 months and monthly reimbursements are due for payment from the ninth month. The Company may repay this loan in part or in full at any time.
