Osta Biotechnologies Inc.

Osta Biotechnologies Inc.

March 31, 2006 15:15 ET

Osta Enters Into an Investor Relations Agreement

MONTREAL, QUEBEC--(CCNMatthews - March 31, 2006) - Osta Biotechnologies Inc. (TSX VENTURE:OBI) today announced that it has retained the services of Mr. John Martin for assistance with its investor relations, media relations and market development services in Western Canada. Based in British Columbia, Mr. Martin specializes in investor relations for companies listed on Canadian stock exchanges. Under the consulting agreement dated February 2006, and subject to regulatory approval, Mr. Martin will provide his services to Osta for an initial period of one year in exchange for the payment of a monthly retainer of $3,000 and the grant of a stock option giving Mr. Martin the opportunity to purchase 75,000 common shares of Osta at a price of $0.25 per share, vesting in four equal tranches over a period of 12 months from the date of grant. The agreement may be renewed upon mutual agreement.

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 Osteoporosis, Osteoarthritis and Alzheimer's disease.

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

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.

Contact Information

  • Osta Biotechnologies Inc.
    Mr. Alain Geahchan
    Director of Operations
    (514) 567-5505
    Osta Biotechnologies Inc.
    Dr. Ajay Gupta
    Chairman & CEO
    (514) 626-0322