ALDA Pharmaceuticals Corp.

ALDA Pharmaceuticals Corp.

December 01, 2006 15:08 ET

ALDA Proposes Extension of Exercise Period of 3,916,000 Outstanding Share Purchase Warrants

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 1, 2006) - ALDA Pharmaceuticals Corp. (TSX VENTURE:APH) ("ALDA") announces that it has agreed to extend the exercise period of an aggregate of 3,916,000 outstanding share purchase warrants issued as part of the non-brokered private placement of common share units which closed on December 21, 2005. Pursuant to the proposed extension, the applicable exercise period will be extended by one further year, from December 21, 2006 to December 21, 2007, after which the warrants will expire and be of no further force and effect. The warrant exercise price of $0.10 per share will remain the same. The proposed extension is subject to the warrant holders entering into definitive amendment agreements and the acceptance of the TSX Venture Exchange.

The amendment provides ALDA with an extended opportunity to receive funding for general corporate purposes from existing warrant holders.

About ALDA

ALDA has developed and markets wide spectrum, non-toxic, non-corrosive, biodegradable infection control products based on its patent-pending T36® technology. Its lead product, T36® Disinfectant, is acknowledged to be effective against all fungi, bacteria, viruses including Avian Flu, SARS, Norwalk Virus, HIV, Legionella and Hepatitis because of its ability to kill polio and TB.

Terrance G. Owen, Ph.D., MBA, President, CEO and Director

ALDA Pharmaceuticals Corp.

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

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