Afexa Life Sciences Inc.

Afexa Life Sciences Inc.

September 11, 2007 08:00 ET

CV Technologies Served With Statements of Claim

EDMONTON, ALBERTA--(Marketwire - Sept. 11, 2007) - CV Technologies Inc. (TSX:CVQ) has been served with Statements of Claim in two co-ordinated class actions commenced simultaneously in Ontario and Alberta against the Company and certain officers and directors and the Company's former auditors. The lawsuits seek certification of a national class action on behalf of any persons who acquired the Company's securities between December 11, 2006 and March 23, 2007. As referenced in the July 23, 2007 news release, the proposed class actions relate to allegations concerning CVQ's audited financial statements for the year ended September 30, 2006, and its interim unaudited financial statements for the first quarter of fiscal 2007. The proposed class actions allege the financial statements for those periods were misleading.

The matters raised in the class actions are, at this stage, unproven allegations that will be vigorously defended. Leave of the Ontario and Alberta Courts has not been granted for the proposed class actions to proceed as secondary market securities class actions and have not been certified as class actions in either Province.


CV Technologies is a global leader in the development and commercialization of naturally derived, evidence-based, natural therapeutics for disease prevention and health maintenance. Its lead product - COLD-fX® - approved by Health Canada, prevents and relieves cold and flu infections by strengthening the immune system. It is Canada's #1 selling cold and flu remedy (ACNielsen's MarketTrack Drug Service for Cold Remedies, Natural Supplements & Vitamins Categories for the 52 weeks ending June 9, 2007).

This news release contains forward-looking statements that are subject to risks and uncertainties that may cause actual results or events to differ materially from the results or events predicted in this release, including those comments related to the defense of the lawsuit and the successful outcome of any defense. Although we believe that the forward-looking statements contained herein are reasonable, we can give no assurance that our expectations are correct and that the results, performance or achievements expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. For a more in-depth account of risks and uncertainties, please refer to documents filed with the Canadian securities regulatory authorities through the System for Electronic Document Analysis and Retrieval (SEDAR). Subject to its obligations under applicable law, the Company assumes no duty to update this disclosure. The Company is a 12g3-2(b) SEC registrant.

Contact Information