ALDA Pharmaceuticals Corp.

ALDA Pharmaceuticals Corp.

August 13, 2007 11:49 ET

ALDA Pharmaceuticals Closes Private Placement for Gross Proceeds of $240,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 13, 2007) - ALDA Pharmaceuticals Corp. (TSX VENTURE:APH) (the "Company") is pleased to announce that it has closed the private placement originally announced in a news release dated July 10, 2007. A total of 2,000,000 Units of the Company were sold at a price per Unit of $0.12 for gross proceeds of $240,000. Each Unit consists of one common share of the Company and one share purchase warrant, each warrant entitling the holder to purchase an additional common share of the Company on or before the one year anniversary of the closing date at a price of $0.24 per common share and at a price of $0.36 during the subsequent year. Net proceeds from the offering will be used for working capital.

All securities issued with respect to the private placement will be subject to a hold period of four months from the closing date, expiring on December 11, 2007 in accordance with the policies of the TSX Venture Exchange and applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws, if applicable.

About ALDA Pharmaceuticals Corp.

ALDA Pharmaceuticals Corp. is focused on the development of infection control therapeutics derived from its patent-pending T36® technology. The company trades on the TSX Venture Exchange under the symbol APH.

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
    ALDA Pharmaceuticals Corp. - Distribution & Sales Contact
    Peter Chen
    CFO and Director
    (604) 521-8300 Ext. 3
    (604) 521-8322 (FAX)
    ALDA Pharmaceuticals Corp. - Investor Relations Contact
    Scott Young
    (604) 288-7222