Aug 13, 1999
Paladin Completes $200,000 Private Placement With Its New Chief Financial Officer
Montreal, PQ – August 13, 1999 - Paladin Labs Inc. (VSE:PLB) announced today the completion of the issuance of 46,512 common shares to Paladin’s new Chief Financial Officer, Lennie Ryer, C.A., for aggregate proceeds of $200,000.
Prior to joining Paladin, Mr. Ryer was the managing partner of the Montreal office of BDO Dunwoody, a national accounting firm. Mr. Ryer has practiced accounting for 17 years, largely in the areas of Mergers & Acquisitions and Taxation.
Jonathan Goodman, President of Paladin stated, "Mr. Ryer is going to greatly assist Paladin in fulfilling its strategy of acquiring innovative pharmaceuticals for the Canadian market. His first assignment will be to examine means to increase the liquidity of Paladin shares, and to enhance the profile of the Company. We are thrilled to have Lennie join our team and demonstrate his commitment to the success of Paladin through his significant investment in Paladin."
Paladin Labs Inc. is a public company whose shares trade on the Vancouver Stock Exchange under the symbol PLB.
About Paladin Labs Inc.
Paladin Labs, headquartered in Montreal, Quebec is a Canadian developer, marketer and distributor of innovative pharmaceutical currently offering products in urology, dermatology, rheumatology and other specialty markets. For more information about Paladin, please visit the Paladin Web Site at www.paladin-labs.com or send e-mail to ir@paladin-labs.com.
This news release may contain forward-looking statements or predictions. These statements represent our judgement as of this date and are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed in such forward-looking statements Potential risks and uncertainties include, without limitation, those associated with product development, clinical trials, future revenues and profitability, and obtaining marketing approval. These documents contain and identify important factors that could cause the actual results to differ materially from those contained in the projections or forward-looking statements.
PALADIN LABS INC.
For more information:
Paladin Labs Inc.