VANCOUVER, Dec. 5 /CNW/ - QLT Inc. (NASDAQ: QLTI - News; TSX: QLT - News) announced that it will mail an offer to purchase and issuer bid circular (the "Circular") to its shareholders today in connection with a modified "Dutch Auction" tender offer for up to US$50 million of common shares, previously announced on December 1, 2008. The Circular is being filed with the securities regulatory authorities in the United States and Canada. Under the terms of the tender offer, shareholders will have the opportunity to tender all or a portion of their shares at an individually selected price that is not less than US$2.20 per share and not greater than US$2.50 per share. The offer to purchase shares will expire on January 15, 2009 at 5:00 p.m. (Eastern Time), unless withdrawn or extended.
