ViRexx Medical Corp. (TSX:VIR) (AMEX: REX), a company focused on immunotherapy treatments for certain cancers, chronic hepatitis B & C and embolotherapy treatments for tumors, today announced that it has closed the private placement announced on March 3, 2006 with the issuance of 800,000 units for gross proceeds of $1,000,000 (CAD). Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share of ViRexx at a price of $1.75 for a period of two years from the date of issuance. The Company was able to negotiate more advantageous terms than had previously been announced. Montex Exploration Ltd. acted as the broker for this private placement transaction.
