Osta Biotechnologies Inc.

Osta Biotechnologies Inc.

November 03, 2006 12:31 ET

Osta Biotechnologies Announces Extension of 187,500 Warrants

MONTREAL, QUEBEC--(CCNMatthews - Nov. 3, 2006) - Osta Biotechnologies Inc. (TSX VENTURE:OBI) announces that, subject to regulatory approval, 187,500, common share purchase warrants with an expiry date of November 9, 2006 have been extended for a period of twelve months, until November 9, 2007. All other conditions of the warrants, including the exercise price of $0.70, remain the same. The warrants were issued pursuant to a private placement which closed in November 2005.

There are currently 28,345,216 common shares of Osta issued and outstanding.

About Osta Biotechnologies Inc.

Osta is a biopharmaceutical company listed on the TSX Venture Exchange (TSXV: OBI) dedicated to developing novel diagnostics and therapeutics for the aging population, particularly in the areas of Alzheimer's disease, Osteoporosis and Cancer.

Certain information in this press release is forward-looking and is subject to numerous risks and uncertainties. By their nature, such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. These risks include actions of Osta's competitors, and those inherent in scientific research and development.

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

Contact Information

  • Osta Biotechnologies Inc.
    Mr. Alain Geahchan
    Director of Operations
    Osta Biotechnologies Inc.
    Dr. Ajay Gupta
    Chairman & CEO