Life Sciences Institute Inc.
TSX VENTURE : LSN

Life Sciences Institute Inc.

January 15, 2010 18:35 ET

Life Sciences Announces Flow-Through Offering and Close of Private Placement

CALGARY, ALBERTA--(Marketwire - Jan. 15, 2010) - LIFE SCIENCES INSTITUTE INC. (the "Corporation") (TSX VENTURE:LSN), is pleased to announce the offering of between a minimum of 6,250,000 common shares to a maximum of 7,916,666 common shares issued on a "flow-through" basis (each a "Flow-Through Share") at a price of $0.12 per Flow-Through Share (the "Offering"). The Corporation may pay finders a fee of up to an 8.00% of the gross proceeds of the Offering. Hold periods will apply to the securities issued under this Offering in accordance with applicable securities laws. This Offering is subject to the approval of the TSX Venture Exchange.

Further the Corporation is please to announce that it has closed an offering of 416,666 common shares issued shares issued on a "flow-through" basis (each a "Flow-Through Share") at a price of $0.12 per Flow-Through Share for aggregate gross proceeds of $50,000. No commissions or finder's fee were paid relative to this offering. Hold periods will apply to the securities issued under this offering in accordance with applicable securities laws.

Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Life Sciences Institute Inc.
    Robert C. Thomas
    President and Chief Executive Officer
    (403) 247-4319