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Bradmer to repurchase up to 8.3 million of its common shares pursuant to a substantial issuer bid
Date:7/17/2009

fer is not conditional on any minimum number of Shares being deposited, however, the Offer is subject to other customary conditions. Full details of the Offer, including the procedure for depositing Shares, and the accompanying issuer bid circular and other related documents (collectively, the "Offer Documents") are expected to be mailed to shareholders shortly. The Offer Documents will contain important information which should be read carefully before making a decision in respect of the Offer.

In accordance with applicable securities laws, the Corporation has retained an independent valuator, Bloom Burton Co, to provide a formal valuation and opinion as to the fair market value of the Shares. The issuer bid circular to be mailed to shareholders will contain the formal valuation.

Neither Bradmer nor its Board of Directors makes any recommendation to any shareholder as to whether to deposit or refrain from depositing Shares pursuant to the Offer. Each shareholder must make his, her or its own decision whether to deposit Shares and, if so, what number of Shares to deposit. Shareholders are urged to consult their own investment and tax advisors prior to making any decision in respect of the Offer.

The Offer, once launched, will be open for a minimum bid period of not less than 35 days.

This press release is for informational purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell Shares. The solicitation and the offer to purchase Shares will be made only pursuant to the offer to purchase and issuer bid circular and related documents.

The Corporation also confirms that it has been notified by the Toronto Stock Exchange (the "TSX") that it is reviewing the eligibility for continued listing of the Shares on the TSX. The review is being conducted under the TSX's Remedial Review Process pursuant to which the Corporation has been given until February 8, 2010 to satisfy the TSX that it meets
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SOURCE Bradmer Pharmaceuticals Inc.
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