November 25, 1999
PALADIN LABS INC. TO PARTICIPATE IN DYNAMIC QSSP FUND
Montreal, PQ- November 25, 1999 - Paladin Labs Inc. ("Paladin") (VSE: PLB) today announced that it has signed a letter of intent with the Dynamic QSSP Fund ("Fund") to issue, in a private placement, Paladin common shares for a total dollar amount ranging between $1.0 million and $2.0 million. The subscription price will be determined according to the average closing price of Paladin's common shares on or about December 15,1999. The number of shares subscribed to by the Fund will be determined according to the size of the issuance of the Fund.
Paladin is one of the Quebec businesses making up the Dynamic QSSP Fund portfolio for which a preliminary simplified prospectus dated November 22, 1999 was filed with the Commission des valeurs mobilieres du Quebec.
The closing of the transaction on or about December 15, 1999 is subject to standard terms and conditions, including a due diligence review conducted by the Dynamic QSSP Fund and the approval of the regulatory authorities.
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 pharmaceuticals, 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.
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.
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Paladin Labs Inc.