Immuno Research Inc.

May 30, 2006 19:04 ET

Immuno Research Inc. Announces $2 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 30, 2006) - Immuno Research Inc. (TSX VENTURE:IRI) is pleased to announce it has arranged a $2 million private placement with Lakota Research International Inc. This Agreement remains subject to normal regulatory approval of the TSX Venture Exchange.

Private Placement

Immuno has arranged for a private placement of 5,000,000 shares at a price of $0.40 per share for gross proceeds of $2 million. The shares are to be acquired by Lakota Research International Inc., a company headed by Mr. Richard Stewart, a newly appointed director of the company (see news release dated May 18, 2006). There will be a 7% commission paid on the transaction to Raymond James.

Lakota Research International Inc. is the manufacturer of Canada's leading brand of topical pain relievers and herbal joint care supplements.

With the additional capital, the company will be able to increase antibody production and to reduce the current back log of orders. The funding will enable the company to incorporate its unique ion exchange purification process to the extraction of antibodies from eggs.

With the newly acquired intellectual capital associated with the current acquisition program and the addition of Mr. Stewart's background and extensive network connections, the company is in an excellent position to further expand its operations and now has the management available to assist such expansion.

On behalf of the Board of Directors, John Mason, President and CEO

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

Contact Information

  • Ascenta Capital Partners Inc.
    Francis Reynolds
    Investor Relations
    (604) 684-4743 ext. 28 or Toll Free: 1-866-684-4743 ext. 28
    Immuno Research Inc. - Vancouver Office
    John Mason
    (604) 807-8694
    (604) 926-1485 (FAX)