Toxin Alert Inc.

Toxin Alert Inc.

February 21, 2007 15:58 ET

Toxin Alert Closes Private Placement

TORONTO, ONTARIO--(CCNMatthews - Feb. 21, 2007) - Toxin Alert Inc. (the "Corporation") (TSX VENTURE:TOX) today reported that it had closed a previously announced placement of 400,000 units consisting of unissued common shares and non-transferable warrants in a non-brokered private placement.

Each unit was composed of one common share issued at $0.60 and one non-transferable warrant to purchase one additional common share at $0.90. Each unexercised warrant will expire on December 30, 2008. Under applicable securities legislation, the hold period prior to the resale of the shares will expire on June 21, 2007.

In addition, the Corporation paid a commission 4% of the proceeds of the securities issued and also issued broker warrants equal to 10% of the units sold. All of the purchasers were "accredited investors" within the meaning of applicable securities regulations and that no insiders purchased units. The securities issued in the private placement will be subject to a hold period of approximately four months under applicable securities legislation.

The funds will be added to working capital and used for the commercialization of the Corporation's Toxin Guard™ process.

Toxin Alert Inc. is a biotechnology corporation dedicated to bringing its Toxin Guard™ technology to market. Toxin Guard™ is a patented system of placing antibody-based tests on polymer packaging films to enable the detection of pathogens or other selected micro-organisms. The corporation aims to leverage its patented technology into a commercialized food safety product. Through existing partnerships with other biotechnology corporations and universities, Toxin Alert Inc. is refining its technology for use as a diagnostic medium. This technology has numerous potential applications in several other fields. For more information, please visit

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