Forbes Medi-Tech Inc.
OTC Bulletin Board : FMTI

May 15, 2009 16:30 ET

Forbes Medi-Tech Regains Compliance with "Stockholders' Equity" Listing Requirement on Nasdaq Capital Market

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2009) - Forbes Medi-Tech Inc. (TSX:FMI)(NASDAQ:FMTI) ("Forbes" or the "Company") announced that the Company received a Nasdaq Staff Letter dated May 15, 2009 confirming that Forbes once again meets the minimum requirements regarding stockholders' equity (US $2,500,000) for continued listing on the Nasdaq Capital Market as required by Listing Rule 5550(b)(1).

The Company's stockholders' equity as of March 31, 2009 was Cdn$5,290,947 or approximately US$4,200,000.

Forbes continues to have until December 21, 2009 to regain compliance with the US$1.00 minimum bid price rule. Forbes can regain compliance by achieving a US$1.00 closing bid price for a minimum of 10 consecutive trading days by December 21, 2009. If the Company does not regain compliance by such date, its securities will be subject to delisting.

About Forbes Medi-Tech

Forbes Medi-Tech Inc. (TSX:FMI)(NASDAQ:FMTI) is a life sciences company focused on evidence-based nutritional solutions. A leader in nutraceutical technology, Forbes is a provider of value-added products and cholesterol-lowering ingredients for use in functional foods and dietary supplements. Forbes successfully developed and commercialized its Reducol™ plant sterol blend, which has undergone clinical trials in various matrices and has been shown to lower "LDL" cholesterol levels safely and naturally. Building upon established partnerships with leading retailers and manufacturers across the globe, Forbes helps its customers to develop private label and branded products. For more information about Forbes Medi-Tech, please visit www.forbesmedi.com.

Forward Looking Statements

This News Release contains forward-looking statements and forward-looking information, within the meaning of applicable securities laws (collectively, "forward-looking statements"), regarding the Company's continued listing on Nasdaq and the deadline to meet Nasdaq's minimum bid price rule. Forward-looking statements can be identified by forward-looking terminology such as "until", "December 21, 2009", and similar expressions or variations thereon. Forward-looking statements are inherently uncertain, and actual results may differ materially from the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, uncertainty whether the Company will regain compliance with the minimum bid place rule within the timeline required by Nasdaq, failing which, the Company's securities may be delisted by Nasdaq; uncertainty whether the Company would appeal any delisting notice or whether any such appeal would be successful, failing which, the Company's securities will be delisted by Nasdaq; the risk that delisting of the Company's securities may have a material adverse effect on the Company's share liquidity and trading price and on the Company's ability to obtain financing and continue its business; and the risk of changes in business strategy or plans. For a further discussion of these and other known risks and uncertainties affecting the Company and its business, please see our latest Annual Information Form / Form 20-F, and other documents filed by us with Canadian and U.S. securities regulatory authorities at www.sedar.com and www.sec.gov. Forward-looking statements are based on the beliefs, assumptions, and expectations of the Company's management at the time they are made, and the Company does not assume any obligation, except as required by law, to update its forward-looking statements if those beliefs, assumptions, or expectations or other circumstances should change.

Contact Information