Welichem Biotech Inc.

Welichem Biotech Inc.

March 28, 2007 18:37 ET

Welichem Announces Arrangement of Non-Brokered Private Placement

BURNABY, BRITISH COLUMBIA--(CCNMatthews - March 28, 2007) - Welichem Biotech Inc. (the "Company") (TSX VENTURE:WBI) is pleased to announce that it has arranged a non-brokered private placement of up to 6,666,667 Shares at a purchase price of $0.15 per share, for total gross proceeds of up to $1,000,000.

A Finder's fee equal to 7.5% of the gross proceeds is payable in connection with the private placement.

About Welichem Biotech Inc.

Welichem Biotech Inc. is a publicly-traded biotechnology company developing therapeutic drugs in the fields of autoimmune diseases and cancer.


York Yingping Guo, President and CEO

This press release contains forward-looking statements that include our belief as to the potential of our products. Certain risks and uncertainties such as our ability to successfully commercialize the products could cause the Company's actual results to differ materially from those in the forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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