NSP Pharma Corp

August 02, 2006 14:45 ET

NSP Pharma Corp.: Operations Update

PICKERING, ONTARIO--(CCNMatthews - Aug. 2, 2006) - NSP Pharma Corp. ("NSP") (TSX VENTURE:NSP) advises that it has appointed Schwartz Levitsky Feldman Inc. as Receiver and Manager of its wholly owned subsidiary, Naturale Sciences Pharma Inc. ("NSPI").

This appointment is made pursuant to a General Security Agreement dated October 4, 2005, given to NSP as part of the security for the payment and satisfaction of any and all obligations, indebtedness and liabilities of NSPI to NSP.

NSP alleges that the amount due under the General Security Agreement is in the approximate amount of $ 7,516,556.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Statements made in this release are accurate as of the time of their release and may not reflect future circumstances. Should unforeseen risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, NSP reserves the right to update and amend the statements contained herein.

Shares Outstanding: 15,861,890

Closing Price: August 1st, 2006: $0.06

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

Contact Information

  • NSP Pharma Corp.
    Richard Kline, CA, CIRP
    Contact person for the Receiver and Manager
    (416) 785-5353
    (416) 785-5663 (FAX)