ALDA Pharmaceuticals Corp.

ALDA Pharmaceuticals Corp.

July 10, 2007 09:22 ET

ALDA Pharmaceuticals to Undertake Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2007) - ALDA Pharmaceuticals Corp. (TSX VENTURE:APH) (the "Company") announces that it is undertaking a private placement of up to 2 million units of the Company (the "Units") at a price of $0.12 per Unit for proceeds to the Company of up to $240,000. Each Unit consists of one common share of ALDA and one non-transferable share purchase warrant entitling the holder to acquire one additional common share of ALDA at a price of $0.24 per common share for a period of twelve (12) months from the date of the issuance of the purchase warrant and at a price of $0.36 per common share for the subsequent period of twelve (12) months.

The offering is being made on a private placement basis pursuant to registration and prospectus exemptions of applicable securities laws and is subject to acceptance by the TSX Venture Exchange. All securities issued will be subject to a four month restricted period and will bear a restrictive legend accordingly. Net proceeds from the offering will be used for working capital.

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