Echelon Capital Corporation
TSX VENTURE : ECO.P

December 01, 2008 15:55 ET

Echelon Capital Corporation and MBVax Bioscience Inc. Terminate Proposed Qualifying Transaction

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

Echelon Capital Corporation ("Echelon")(TSX VENTURE:ECO.P), a Capital Pool Company, announces that its proposed Qualifying Transaction with MBVax Bioscience Inc. announced on May 23, 2008, has been terminated by the parties. The transaction has been cancelled, despite concentrated efforts from both parties, as a result of an inability to complete the concurrent financing announced May 28, 2008 under the current market conditions.

Trading in the shares of Echelon will be reinstated upon acceptance by the TSX Venture Exchange.

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

Contact Information

  • Echelon Capital Corporation
    John Eckert
    President and Chief Executive Officer
    (416) 363-2000