CALGARY, Oct. 19 /CNW/ - SemBioSys Genetics Inc. (the "Company")
(TSX:SBS), a biotechnology company developing a portfolio of therapeutic
proteins for metabolic and cardiovascular diseases, today announced that it
has entered an agreement to issue 2,500,000 units of the Company ("Units") at
price of $2.60 per Unit, on a bought deal private placement basis, to a
syndicate of underwriters led by Acumen Capital Finance Partners Limited and
including PI Financial Corp., for total gross proceeds to the Company of
$6,500,000. The Company has granted the underwriters an over-allotment option
to purchase up to an additional 375,000 Units which, if exercised in full,
would raise the total gross proceeds to the Company to $7,475,000. The
offering is expected to close on or about November 14, 2007, subject to the
receipt of all requisite regulatory approvals and the approval of the Toronto
Stock Exchange.
