ALDA Pharmaceuticals Corp.

ALDA Pharmaceuticals Corp.

June 07, 2007 14:55 ET

ALDA Pharmaceuticals Closes $800,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 7, 2007) - ALDA Pharmaceuticals Corp. (TSX VENTURE:APH) ("ALDA" or "the Company") is pleased to announce it has closed its non-brokered private placement originally announced on April 4, 2007 (as amended on April 30, 2007). The Company has issued an aggregate of 8,000,000 common share units (the "Units") at C$0.10 per Unit for gross proceeds of C$800,000. Each Unit consists of one common share in the capital of the Company and one non-transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share at a price of C$0.20 per share until June 7, 2008 and, thereafter, at a price of C$0.30 per share until June 7, 2009. Officers and directors of the Company subscribed for an aggregate of 2,725,000 Units. A finders' fee of $1,000.00 will be paid to Global Securities Corporation.

All securities will be subject to a four month hold period expiring on October 8, 2007 in accordance with applicable Canadian securities law and the policies of the TSX Venture Exchange.

The net proceeds of the offering will be used for general corporate purposes.

About ALDA

ALDA's patent-pending T36® therapeutic products contain active ingredients in very low concentrations that act in concert to disrupt the physical structure of all infectious organisms rather than interfering with their metabolic pathways. The competitive advantage is a high degree of effectiveness and safety while preventing microbial resistance, side effects or toxicity. The Company has identified global markets of $10 Billion in its targeted disease areas.

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

Contact Information

  • ALDA Pharmaceuticals Corp.
    Terrance G. Owen, Ph.D., MBA
    President, CEO and Director
    (604) 521-8300
    (604) 521-8322 (FAX)
    ALDA Pharmaceuticals Corp.
    Scott Young
    Investor Relations
    (604) 288-7222