Herbert Abramson

November 27, 2009 22:36 ET

Herbert Abramson Acquires Additional Shares of Lorus Therapeutics Inc.

TORONTO, ONTARIO--(Marketwire – Nov. 27, 2009) - Herbert Abramson, a director of Lorus Therapeutics Inc. ("Lorus"), announces that he has acquired 17,000,000 units ("Units"), consisting of 17,000,000 common shares and warrants exercisable into 8,500,000 common shares or approximately 9.0% (assuming the exercise of the warrants) of the outstanding common shares of Lorus. The Units were acquired from treasury pursuant to a private placement offered by Lorus.

Upon completion of the acquisition, Mr. Abramson owns, directly or indirectly, 42,826,615 common shares of Lorus, representing approximately 14.4% of the issued and outstanding common shares of Lorus. In addition, Mr. Abramson owns 300,000 stock options and 17,495,605 warrants of Lorus. If he were to exercise all of the options and warrants held by him, Mr. Abramson would own an aggregate of 60,622,220 common shares, representing approximately 19.2% of the then issued and outstanding common shares of Lorus (on a partially diluted basis, i.e., assuming no options and warrants were exercised by other holders).

Mr. Abramson reserves the right to acquire further securities of Lorus depending on market conditions and other relevant factors.

The common shares of Lorus trade on the Toronto Stock Exchange.

An early warning report in respect of the above noted transactions will be filed on SEDAR. Further information can be obtained from:

Herbert Abramson

22 St. Clair Avenue East, 18th Floor, Toronto, ON

Contact Information

  • Herbert Abramson
    416-956-9334