Friday July 17 2009 - News Release
Dr. Terrance Owen reports
ALDA PHARMACEUTICALS INCREASES PRIVATE PLACEMENT
Alda Pharmaceuticals Corp. that the private placement disclosed in a new release in Stockwatch on July 3, 2009, of up to three million common share and warrant units of the company at a price of 20 cents per unit has been terminated and that the company will instead proceed with an offering of up to six million units at a price of 25 cents for proceeds up to $1.5-million.
Each unit consists of one common share of Alda and one non-transferable share purchase warrant entitling the holder to acquire one additional common share of Alda at a price of 40 cents per common share for a period of 12 months from the date of the issuance of the purchase warrant with a forced exercise provision attached to each warrant commencing on the day following the expiry of any applicable hold period on the underlying common share, stating that if, for 10 consecutive trading days, the closing price of the listed shares of the company exceeds 80 cents, then the exercise period of the warrants will be reduced to a period of 10 days following such trading days.
The offering is being made on a private placement basis pursuant to registration and prospectus exemptions of applicable securities laws, and is subject to acceptance by the TSX Venture Exchange. All securities issued will be subject to a four-month restricted period and will bear a restrictive legend accordingly. Net proceeds from the offering will be used for working capital.
