Navigation Links
AlphaRx Officers and Directors To Exercise Options, Warrants and Retain Shares
Date:12/28/2007

MARKHAM, ON, Dec. 28 /PRNewswire-FirstCall/ - AlphaRx Inc. (OTC BB:ALRX - News), a leader in the development of Nanotechnology for Drug Delivery Platforms, announce that in order to meet TSX Venture Exchange listing requirements, its CEO, CFO, directors, consultants and employees plan to exercise stock options to purchase 3,300,000 shares of AlphaRx common stock. Michael Lee, President and CEO, will cancel 6,000,000 options granted to him in 2004 which carried a strike price of $0.15 a share and will exercise 1,862,228 warrants with a strike price of $0.10 a shares. Furthermore, certain company employees will voluntarily cancel 1,710,000 of their options at the same time to make the capital structure of the company more attractive for institutional investors. The company expects to complete these transactions on or before Dec 31, 2007.

In conjunction of the above transactions, Michael Lee will purchase 6,000,000 company shares at a price of $0.15 a share under a private placement. The company expects to close this private placement on or before January 31, 2008.

The shares issued from the exercise of options, warrants and the private placement are subject to applicable hold periods and trading restrictions under the US Securities Act of 1933 and may only be offered, sold or otherwise transferred outside the US or inside the US in accordance with applicable exemptions from registration.

About AlphaRx Inc.

AlphaRx is a specialty pharmaceutical company utilizing proprietary site-specific nanoparticulate drug delivery systems to develop novel formulations of drugs that are insoluble or poorly soluble in water or have yet to be administrable to the human body with an acceptable delivery method. The Company also discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases and neurodegenerative diseases.

Forward Looking Statements:

This release contains forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 and involve risks and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product development and acceptance, manufacturing, competition, regulatory and/or other factors, which are outside the control of the companies.


'/>"/>
SOURCE AlphaRx Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. AlphaRx To Present at 47th Annual ICAAC
2. AlphaRx Announces Debt Conversion
3. Ohio Dental Association Installs New President and Officers
4. HealthInsuranceFinders.com Launches Video Contest for Young Directors
5. Arrow International Urges Shareholders To Vote for Approval of the $45.50 Teleflex Inc. Merger and for the Current Board of Directors
6. Zimmer Holdings Offer and ORTHOsoft Directors Circular Mailed to Shareholders
7. Glass Lewis Recommends Arrow Shareholders Vote on the White Proxy Card for Merger With Teleflex and for Current Board of Directors at Arrow Annual Meeting
8. STERIS Corporation Board of Directors Names Walter M. Rosebrough Jr. President and Chief Executive Officer
9. Patient Safety Authority Board of Directors Names Infection Advisory Panel
10. William Moore Appointed to IRIDEX Board of Directors
11. Arrow International Sends Letter Reminding Shareholders to Vote White Proxy Card in Support of Teleflex Merger and Election of Current Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/9/2016)... ... December 09, 2016 , ... The Pennsylvania Athletic Trainers’ ... during the summer of 2016. The program was made possible by a Pennsylvania ... Department of Health and Human Services Administration. The broadcast, Use Your Head: ...
(Date:12/8/2016)... ... December 08, 2016 , ... Russ DiGilio ... the first national #QuackGivesBack campaign which supported local breast cancer organizations during National ... Quack Gives Back initiative, and we’re very pleased with the participation ...
(Date:12/8/2016)... ... December 08, 2016 , ... CURE Media Group, the ... advocacy groups, has aligned with Upstage Lung Cancer in efforts to combat lung cancer, ... Michael J. Hennessy, Jr said, “CURE Media Group is honored to team up with ...
(Date:12/8/2016)... Fla (PRWEB) , ... December 08, 2016 , ... ... smarter modes of access for customers and employees that are both engaging and ... 7 with Service Smart Technology, the software company revealed today its plans to ...
(Date:12/8/2016)... ... December 08, 2016 , ... STAT courier is pleased to announce ... service for Texas, they are expanding their presence in Dallas. One of the most ... will bring new jobs to the Dallas and Forth Worth market. STAT takes pride ...
Breaking Medicine News(10 mins):
(Date:12/8/2016)... 2016 Australia Glaucoma Surgery Devices Market ... report, "Australia Glaucoma Surgery Devices Market Outlook to ... Glaucoma Surgery Devices market. The report provides value, ... and average prices (USD) within market segement - ... company shares and distribution shares data for each ...
(Date:12/8/2016)... 8, 2016 Global Interventional Radiology Market: ... global interventional radiology market analyzes the current and ... an elaborate executive summary, including a market snapshot ... sub-segments. The research is a combination of ... bulk of our research efforts along with information ...
(Date:12/8/2016)... 8, 2016  Diplomat Pharmacy, Inc. (NYSE: DPLO) has been recognized ... Top Workplaces National Standard. To learn more about ... ... Inc.) ... survey administered by WorkplaceDynamics, LLC, a research firm specializing in organizational ...
Breaking Medicine Technology: