Joddes Limited

June 11, 2009 08:59 ET

Joddes Limited Announces Purchase of Paladin Labs Inc. Common Shares

MONTREAL, QUEBEC--(Marketwire - June 11, 2009) - Joddes Limited ("Joddes") announced today that it purchased 750,000 common shares of Paladin Labs Inc. ("Paladin") (TSX:PLB) pursuant to a prospectus offering of common shares by Paladin, representing approximately 4% of the outstanding common shares of Paladin. Joddes now owns, in the aggregate, 7,030,687 common shares of Paladin, representing approximately 38% of the outstanding common shares of Paladin, a publicly traded Canadian company.

The purchase was made for general investment purposes and Joddes and/or its affiliates may purchase additional shares or otherwise trade in securities of Paladin from time to time depending on market conditions and other considerations.

About Joddes

Joddes Limited, a privately owned investment holding company, holds a number of significant positions in pharmaceutical and healthcare companies including Pharmascience Inc., a leading Canadian-based developer, manufacturer and distributor of generic and over the counter pharmaceutical and is affiliated with A.R. Medicom, a global manufacturer and distributor of infection control products based in Montreal.

Contact Information

  • Joddes Limited
    Samuel Altman
    President,
    514-340-9800