VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 3, 2011) - ALDA Pharmaceuticals Corp. (TSX VENTURE:APH)(OTCQB:APCSF) (the "Company" or "ALDA") announces that a joint venture agreement has been established with Seavan Health & Beauty Partnership ("Seavan"). Under the terms of the agreement, Seavan will manufacture ALDA's products and ALDA's personnel will undertake the marketing and sales of Seavan's products and services in addition to those of ALDA. The acquisition of substantially all of the assets and undertakings of Seavan by ALDA is still in progress.
Dr. Terrance Owen, President & CEO, states, "During our discussions with Seavan, it became clear that it would be beneficial for us to work together now because the two companies are very complimentary and can benefit from each other's strengths. This joint venture will allow us to combine our resources, fine-tune our delivery of both ALDA's and Seavan's products and services and grow both businesses as we work on the acquisition. The ultimate goals are for ALDA to manufacture as well as distribute T36® products, acquire expertise in R&D, quality assurance and regulatory matters and re-focus on the therapeutic applications of the T36® technology."
AboutSeavan Health & Beauty Partnership (www.seavanlabs.com)
Seavan, located in Vancouver, manufactures pharmaceutical, nutritional and personal care products under licenses from Health Canada and the FDA. Examples of products manufactured at Seavan include glucosamine and magnesium supplements, sun screens, topical delivery systems, pain relievers, body washes, hair care products and ALDA's T36® products.
About ALDA Pharmaceuticals Corp.
ALDA is focused on the development of infection-control therapeutics derived from its patented T36® technology. The company trades on the TSX Venture Exchange under the symbol APH and on the OTCQB under the symbol APCSF. The Company was the Official Supplier to the Vancouver 2010 Olympic Winter Games and the Vancouver 2010 Paralympic Winter Games and is the Official Supplier to the Canadian Olympic Committee, the 2010 Canadian Olympic Team and the 2012 Canadian Olympic Team for antiseptic hand sanitizer, disinfectant and disinfectant cleaning products. The Company was also selected as one of the TSX Venture 50 companies in the Technology and Life Sciences sector for 2010.
Terrance G. Owen, Ph.D., MBA, President & CEO
ALDA Pharmaceuticals Corp.
Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves ALDA's expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. ALDA generally uses words such as "outlook", "will", "could", "would", "might", "remains", "to be", "plans", "believes", "may", "expects", "intends", "anticipates", "estimate", "future", "plan", "positioned", "potential", "project", "remain", "scheduled", "set to", "subject to", "upcoming", and similar expressions to help identify forward-looking statements. The forward-looking statements in this release are based upon information available to ALDA as of the date of this release, and ALDA assumes no obligation to update any such forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of ALDA and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.
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.