Warnex Inc.
TSX : WNX

Warnex Inc.

January 03, 2008 09:40 ET

Warnex Obtains Waiver for Quarterly Capital Repayment

LAVAL, QUEBEC--(Marketwire - Jan. 3, 2008) - Warnex Inc. (TSX:WNX) today announced that it has obtained a waiver from SIPAR Inc. for the Company's quarterly capital repayment of $500,000 which is due on January 3, 2008. SIPAR will allow Warnex to repay this amount any time up to April 1st, 2008. This agreement is part of Warnex's strategy, following its announcement on December 20, 2007, to refinance and restructure its debt instruments in order to present a more stable balance sheet in the near future.

"We are pleased that SIPAR has agreed to grant us this waiver in order to allow us to conclude financing arrangements with various parties," said Mark Busgang, President and CEO of Warnex. "This accommodation demonstrates SIPAR's confidence in our ability to reorganize our financial instruments."

About Warnex

Warnex (www.warnex.ca) is a life sciences company devoted to protecting public health by providing laboratory services to the pharmaceutical and healthcare sectors. Warnex's analytical services division provides pharmaceutical and biotechnology companies with a variety of quality control services, including traditional chemistry, chromatography, microbiology, method development and validation, and stability studies. Warnex's bioanalytical services division specializes in bioequivalence and bioavailability studies for clinical trials. Warnex's medical laboratories division focuses on genetic and biochemical testing for the healthcare industry and has extensive expertise in genetic testing for human identification, molecular diagnostics, and pharmacogenetics.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this news release are forward-looking and are subject to numerous risks and uncertainties, known and unknown. For information identifying known risks and uncertainties, relating to strategic options for the Company, financial resources and credit risk, laboratory facilities, suppliers, government regulations, key employees, key customers and business partners, foreign currency risk, volatility of share price, and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the heading Risks and Uncertainties in the Management's Discussion and Analysis for the third quarter ended September 30, 2007, which can be found at www.sedar.com. Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.

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