LAVAL, QC, May 28 /PRNewswire-FirstCall/ - Warnex Inc. today announced that is has engaged GMP Securities L.P., an institutional investment dealer with locations across Canada, to act as advisor in its previously announced review of strategic options.
The Company announced on April 24, 2007, that is has initiated a review of various strategic options for its ongoing laboratory services business in order to enhance shareholder value. These options include, but are not limited to, partnerships, mergers or the sale of the Company.
Warnex provides no assurance that the initiation of a process to explore strategic options will result in a transaction. No decision has been made to enter into any transaction at this time and no timetable has been set for the completion of this process. The Company does not currently intend to disclose developments with respect to the exploration of strategic options unless and until its Board of Directors has approved a specific transaction.
About GMP Securities L.P.
GMP Securities L.P. is a leading independent Canadian investment dealer focused on investment banking and institutional equities for corporate clients and institutional investors. GMP Securities L.P. can be found on the web at gmpsecurities.com.
About Warnex
Warnex (www.warnex.ca) is a life sciences company devoted to protecting public health by providing laboratory services to the pharmaceutical and healthcare sectors. Warnex’s analytical services division provides pharmaceutical and biotechnology companies with a variety of quality control services, including traditional chemistry, chromatography, microbiology, method development and validation, and stability studies. Warnex’s bioanalytical services division specializes in bioequivalence and bioavailability studies for clinical trials. Warnex’s medical laboratories division focuses on genetic and biochemical testing for the healthcare industry and has extensive expertise in genetic testing for human identification, molecular diagnostics, and pharmacogenetics.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release are forward-looking and are subject to numerous risks and uncertainties, known and unknown. For information identifying known risks and uncertainties, relating to the early commercialization of Warnex products, intellectual property and licensing, R&D of new Warnex products, integration of acquisitions, manufacturing and laboratory facilities, suppliers, key employees, key customers and business partners, financial resources and credit risk, government regulations, foreign currency risk, volatility of share price, strategic alternatives for the pathogen detection division, and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the heading Risks and Uncertainties in the Management’s Discussion and Analysis for the first quarter ended March 31, 2007, which can be found at www.sedar.com. Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.
Warnex Inc.
CONTACT: Mark J. Busgang, President & CEO, Warnex Inc., Tel: (450)663-6724 x.310, mbusgang@warnex.ca; Susan Burkman, Director, GMP SecuritiesL.P., Tel: (514) 288-2795, susanb@gmpsecurities.com
