California Capital Equity, LLC

May 10, 2011 17:41 ET

California Capital Equity, LLC: Acquisition of Common Shares of ProMetic Life Sciences Inc.

LOS ANGELES, CALIFORNIA--(Marketwire - May 10, 2011) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

California Capital Equity, LLC ("California Capital Equity"), 11755 Wilshire Blvd., Suite 2000, Los Angeles, California 90025 USA, announced today that it has acquired ownership of 33,527,021 common shares of ProMetic Life Sciences Inc. ("ProMetic") and warrants to acquire up to 44,791,488 common shares of ProMetic at a price of CDN $0.47 per share. The common shares and warrants were acquired as part of the sale by Celgene Corporation of certain assets obtained through its merger with Abraxis BioScience, Inc.

Prior to the acquisition, California Capital Equity had no ownership of or control over securities of ProMetic.

Following the acquisition of common shares, California Capital Equity holds 33,527,021 common shares of ProMetic, representing 8.93% of ProMetic's outstanding common shares. Assuming the exercise of all rights under the warrants to acquire additional common shares, California Capital Equity would hold 18.64% of the outstanding common shares of ProMetic.

The acquisition by California Capital Equity of the common shares and warrants was made for investment purposes. California Capital Equity may increase or reduce its investment in ProMetic according to market conditions or other relevant factors.

Contact Information

  • California Capital Equity, LLC
    C. Kenworthy
    Manager
    310-883-1300