SOURCE: Spencer Pharmaceutical Inc.

November 18, 2010 09:00 ET

Spencer Pharmaceutical to Host Official Dinner for Al-Dora

BOSTON, MA--(Marketwire - November 18, 2010) - Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) announced today that it will be hosting an official dinner on November 30, 2010 in Montreal in honor of Al-Dora.

Further to a buyout offer at $0.97 per shares and ongoing negotiations, the company will host an official dinner (lunch) to be held on November 30, 2010, starting at 11am at the exclusive private Mount Stephen Club in Montreal, Quebec. The Official dinner will be held in honor of Al-Dora and their representatives and will be $1,000 per person, whereby the proceeds will be given to a charity of Al-Dora's choice. Government Officials, members of the bio-technology community, shareholders, partners, and members of the media are welcome to RSVP at info@spencerpharmaceutical.com, limited space available. It should be noted that the individual payment shall be received no later than November 26, 2010, to be admitted to the dinner; no access will be granted the day of the event due to security reasons.

"It is our great honor to host the dinner for Al-Dora and their representatives," said Dr. Max Arella, President of Spencer Pharmaceutical Inc. "We are progressing rapidly with our science, as well as our licensing and now this buyout and we are working diligently to assure a successful transaction," further added Dr. Arella.

About Spencer Pharmaceutical Inc.

Spencer Pharmaceutical Inc. is a US-based Pharmaceutical Research and Development Corporation, which is developing innovative drug release and absorption systems for the treatment of metabolic diseases such as diabetes and metabolic syndrome.

About Al-Dora Holdings

Al-Dora Holdings is a private investment company located in Kuwait. Al-Dora Holdings is a subsidiary of the Al-Dora Group. (In the translation from Arabic to English, Al-Dora is sometimes spelled Dorra and/or Dura.) The Al-Dora Group has investments in the financial sector, oil and gas, pharmaceutical, and Real-Estate.

Important Information About Forward-Looking Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above. In addition, such statements could be affected by risks and uncertainties related to the exploration for and development of mineralized material, product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on the Company's website does not constitute a part of this release.

Contact Information

  • Contact:
    Dr. Max Arella
    President
    Spencer Pharmaceutical Inc.
    Tel. 1+(617) 973-5017

    H.E. Hussein Al-Awaid
    Chief Executive Officer
    Al-Dora Holdings
    Tel. 97150 2160222