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Message: Unable to File Its 2008 Audited Annual Financial / Closes Facility

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Unable to File Its 2008 Audited Annual Financial / Closes Facility

posted on Apr 23, 09 12:39PM

April 23, 2009

PharmEng Unable to File Its 2008 Audited Annual Financial Statements and Closes Sydney Manufacturing Facility

TORONTO, ONTARIO--(Marketwire - April 23, 2009) - PharmEng International Inc. (TSX VENTURE:PII) (the "Company"), announces that it will not be able to file its annual audited financial statements and the related MD&A and certifications of same (collectively, the "Annual Filings") by the filing deadline of April 30, 2009 as prescribed by National Instrument 51-102 - Continuous Disclosure Obligations.

The inability to file the Annual Filings is related to the recent Proposal filed by the Company under the Bankruptcy and Insolvency Act as initially announced in the Company's press release of April 14, 2009.

The Company also announces the closure of its Sydney, Nova Scotia manufacturing facility effective May 8, 2009. The plant will continue to operate until the closure date. The Company would like to thank the team in Sydney for their contributions.

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