TORONTO, ONTARIO--(Marketwire - May 07, 2010) - Jerome McElroy announces that he has acquired beneficial ownership or control of 6,000,000 common shares (each, a "Common Share") in the capital of Arch Biopartners Inc. (CNSX: ACH) (formerly Foccini International Inc.) (the "Corporation"). All Common Shares were acquired in connection with the completion of the acquisition of Arch Biotech Inc. (the "Arch Acquisition") by the Corporation that closed on May 6, 2010. Following the closing of the Arch Acquisition, Mr. McElroy beneficially owns, or has control or direction over, 6,000,000 Common Shares which represent, in the aggregate, 12.7% of the issued and outstanding Common Shares of the Corporation.
Mr. McElroy's interest in the Corporation is for investment purposes only. Mr. McElroy has no current intention of making a take-over bid for the Corporation. Mr. McElroy reserves the right from time to time to purchase additional Common Shares or to dispose of Common Shares as circumstances warrant and permit.
A copy of the early warning report filed in connection with this press release may be obtained from www.sedar.com under the profile for the Corporation.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to The Corporation. Additional information identifying risks and uncertainties is contained in filings by The Corporation with the Canadian securities regulators, which filings are available at www.sedar.com. The Corporation is a reporting issuer in Ontario, Alberta, and British Columbia.
The Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Arch Biopartners Inc.
(647) 428 7031