Ondine Biopharma Corporation
LSE : OBP

Ondine Biopharma Corporation

December 16, 2009 12:40 ET

Ondine Biopharma Corporation

FOR:  ONDINE BIOPHARMA CORPORATION

TSX, AIM SYMBOL:  OBP

December 16, 2009

Ondine Biopharma Corporation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2009) - Ondine Biopharma Corporation
(TSX:OBP)(AIM:OBP) ("Ondine" or the "Company") today announces the following transactions by a
Director of the Company, by the Director's family, and by a charitable foundation of which the
Director and the Director's spouse are directors, and the aggregate ownership interest of the
Director's family and the charitable foundation in the Company:

/T/

Name                                                           Carolyn Cross
Relationship to the Company                       Director, Chairman and CEO
Date the transaction was
 reported to the Company                                   December 10, 2009
Date of trade                                              December 10, 2009
Nature of the transaction              Acquisition carried out in the market
Type of security                                               Common shares
Number of securities acquired                                      1,000,000
Price per security                                               Cdn. $0.035
Nature and extent of the above's
 interest in the transaction                  100% direct ownership interest
Number of shares held in the
 Company by the Director immediately
 subsequent to completion of
 the transaction                                                   5,107,510
Percentage direct ownership in the
 Company of the Director immediately
 subsequent to completion of
 the transaction                                                       4.98%
Number of shares held in the
 Company by the Director's family
 immediately subsequent to completion
 of the transaction, together with
 the shares held by the Courthill
 Foundation disclosed below                                       16,721,133
Percentage ownership in the Company
 by the Director's family immediately
 subsequent to completion of the
 transaction, together with the
 holdings of the Courthill Foundation                                 16.31%
Close period                                                              No


Name                                                    Courthill Foundation
Relationship to the Company                 A charitable foundation in which
                                               Carolyn Cross and her husband
                                                               are directors
Date the transaction
 was reported to the Company                               December 15, 2009
Date of trade                                              December 15, 2009
Nature of the transaction                  Acquisition carried out privately
Type of security                                               Common shares
Number of securities acquired                                      8,866,356
Price per security                                               Cdn. $0.065
Nature and extent of the
 above's interest in the transaction          100% direct ownership interest
Number of shares held directly in
 the Company by the foundation
 immediately subsequent to
 completion of the transaction                                     8,866,356
Percentage ownership in the
 Company by the foundation immediately
 subsequent to completion of
 the transaction                                                       8.65%
Close period                                                              No


Name                                                      Cross Family Trust
Relationship to the Company               A trust in which the beneficiaries
                                                 are family of Carolyn Cross
Date the transaction
 was reported to the Company                               December 15, 2009
Date of trade                                              December 15, 2009
Nature of the transaction                  Disposition carried out privately
Type of security                                               Common shares
Number of securities disposed                                      8,866,356
Price per security                                               Cdn. $0.065
Nature and extent of the
 above's interest in the transaction          100% direct ownership interest
Number of shares held directly
 in the Company by the trust
 immediately subsequent to
 completion of the transaction                                           Nil
Percentage direct ownership in
 the Company by the trust
 immediately subsequent to
 completion of the transaction                                           Nil
Close period                                                              No

/T/


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FOR FURTHER INFORMATION PLEASE CONTACT:

Ondine Biopharma Corporation
Carolyn Cross
Chairman and Chief Executive Officer
(604) 669-0555
ccross@ondinebiopharma.com

OR

Canaccord Adams Ltd.
Ryan Gaffney
Nominated Adviser
+4420 7050 6500


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Contact Information

  • Ondine Biopharma Corporation