Afexa Life Sciences Inc.
TSX : FXA

Afexa Life Sciences Inc.

March 05, 2010 08:00 ET

Afexa Life Sciences Inc. Announces Change in Year-End

EDMONTON, ALBERTA--(Marketwire - March 5, 2010) - Afexa Life Sciences Inc. (TSX:FXA) (the "Company") announced today that it has changed its financial year-end from September 30 to March 31 to better synchronize its financial reporting and business planning with its natural business cycle and those of its key customers and suppliers. In future years the change in year-end will ease some of the administrative burden currently associated with the Company's September 30 fiscal year-end period.

A Notice of Change in Year-End will be filed today via SEDAR and will be accessible at www.sedar.com.

ABOUT AFEXA LIFE SCIENCES INC.

Afexa Life Sciences Inc., founded in 1992, strives to deliver the most trusted health brand on the planet through pioneering evidence-based natural medicines that empower people to achieve their health potential. The Company's patented ChemBioPrint® discovery and standardization technology enables the development of effective and safe medicines from complex natural sources, while ensuring reliable health benefits and batch-to-batch consistency. COLD-FX®, a ChemBioPrint product, is the Company's flagship product and Canada's leading over-the-counter (OTC) cold and flu remedy. It is officially indicated in Canada to help reduce the frequency, severity and duration of cold and flu symptoms by boosting the immune system. COLD-FX products have product licenses (NPN) and are supported by scientific evidence, including randomized, double-blind, placebo-controlled clinical trials.

Advisory Regarding Forward-Looking Statements

This news release contains certain forward-looking statements and information within the meaning of applicable securities laws, which reflect current expectations of the management of Afexa Life Sciences Inc. (the "Company") regarding future events or the Company's future performance. All statements other than statements of historical fact contained in this news release may be forward-looking statements. The forward-looking information included in this document does not guarantee future performance and should not be unduly relied upon. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including, without limitation, comments that could be impacted by competition, the incidence of cold and flu, consumer confidence and spending levels, general economic conditions, interest and currency exchange rates, unseasonable weather patterns, the cost and availability of capital and grants/funding, product development uncertainties, labour market challenges, consumer acceptance of COLD-FX in other markets and consumer acceptance of IMMUNITY-FX and the impact of the change in year-end. The Company believes that the expectations and assumptions reflected in the forward-looking information contained herein are reasonable but no assurance can be given that these expectations and assumptions are correct or that that the results, performance or achievements expressed in, or implied by, forward-looking statements herein will occur, or if they do, that any benefits may be derived from them. The Company can give no assurance that new product development initiatives will lead to new product commercialization. The Company assumes no duty to update or revise forward looking information, except as may be required pursuant to applicable laws. All forward-looking information is expressly qualified in its entirety by this cautionary statement. Further information regarding risks and uncertainties relating to the Company and its securities can be found in the disclosure documents filed by the Company with the securities regulatory authorities, available at www.sedar.com. The Company claims exemption under U.S. SEC Rule 12g3-2(b).

Contact Information

  • Afexa Life Sciences Inc. - Financial Contact
    Allan Cleiren
    Chief Financial Officer and Senior VP Operations
    (780) 432-0022
    acleiren@afexa.com
    www.afexa.com
    or
    Afexa Life Sciences Inc. - Investor Contact
    Jane Tulloch
    Senior Director, Board Affairs and Investor Relations
    (780) 577-3724
    jtulloch@afexa.com
    www.afexa.com