ALDA Pharmaceuticals Corp.

ALDA Pharmaceuticals Corp.

November 22, 2007 13:35 ET

ALDA Pharmaceuticals Closes Private Placement for Gross Proceeds of $525,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 22, 2007) - ALDA Pharmaceuticals Corp. (TSX VENTURE:APH) (the "Company") is pleased to announce that it has closed the private placement originally announced in a news release dated October 22, 2007. A total of 3,500,000 Units of the Company were issued at a price of $0.15 per Unit for gross proceeds of $525,000. Each Unit consists of one common share of the Company and one share purchase warrant, each warrant entitling the holder to purchase an additional common share of the Company on or before November 22, 2008 at a price of $0.30 per common share and, thereafter, on or before November 22, 2009 at a price of at a price of $0.45. Net proceeds from the offering will be used for working capital.

All securities issued with respect to the private placement will be subject to a hold period expiring on March 23, 2008 in accordance with the policies of the TSX Venture Exchange and applicable Canadian securities laws.

The Company has agreed to pay a finders' fee of 5% of the gross proceeds of $315,000 raised through subscribers secured from PROFORMA Capital Inc. of Edmonton, Alberta to be satisfied by the delivery of 82,895 common shares of the Company at a deemed price per share of $0.19.

About PROFORMA Capital Inc.

PROFORMA Capital Inc. ("PROFORMA") is a Canadian owned, innovative wealth management company that creates and provides investment solutions and advisory services for high net-worth individuals, business owners, corporations and foundations. PROFORMA offers comprehensive investment services that cover the entire spectrum of choice, including proprietary investment offerings, tax-advantaged products and customized high net-worth programs.

About ALDA Pharmaceuticals Corp.

ALDA Pharmaceuticals Corp. is focused on the development of infection control therapeutics derived from its patent-pending T36® technology. The company trades on the TSX Venture Exchange under the symbol APH.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • ALDA Pharmaceuticals Corp.
    Terrance G. Owen, Ph.D., MBA
    President, CEO and Director
    (604) 521-8300
    (604) 521-8322 (FAX)
    ALDA Pharmaceuticals Corp.
    Peter Chen, CFP and Director
    Distribution & Sales Contact
    (604) 521-8300 Ext. 3
    ALDA Pharmaceuticals Corp.
    Scott Young
    Investor Relations Contact
    (604) 288-7222