Orbus Pharma Inc.

Orbus Pharma Inc.

June 13, 2005 00:30 ET

Orbus Pharma Inc. Will Not Proceed With the Plan of Arrangement and Special Meeting of Shareholders

TORONTO, ONTARIO--(CCNMatthews - June 13, 2005) - Orbus Pharma Inc. ("Orbus")(TSX:ORB) announces today that in view of the recent announcement by Chamaelo Energy Inc. ("Chamaelo"), Orbus will not be proceeding with the Plan of Arrangement or the Special Meeting of Shareholders called for June 20, 2005 as described in the Information Circular dated May 10, 2005 (the "Information Circular"). Chamaelo announced today that Chamaelo has decided not to proceed with the assignment and assumption agreement (the "Come-Along Agreement") as described in the Information Circular pursuant to which Orbus would have participated in the plan of arrangement of Chamaelo Energy Inc.

Orbus Pharma Inc., listed on the Toronto Stock Exchange under the symbol "ORB", pursues a strategy of generating revenue through the development of drug delivery systems and manufacture of off-patent pharmaceuticals, capitalizing on its ability to support the development and commercialization of a range of products at affordable costs.

Contact Information

  • Orbus Pharma Inc.
    Denis C. Arsenault, C.A.
    VP Finance & Chief Financial Officer
    (905) 943-9444
    Orbus Pharma Inc.
    Jeffrey W. Renwick
    President & Chief Executive Officer
    (905) 943-9444