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Cardiome Pharma Corp. Announces Commencement of US$27.5 Million Tender Offer
Date:9/1/2009

    NASDAQ: CRME
    TSX: COM

VANCOUVER, Sept. 1 /PRNewswire-FirstCall/ - Cardiome Pharma Corp. (NASDAQ: CRME/TSX: COM) ("Cardiome" or the "Company") announced that it has mailed an offer to purchase and issuer bid circular (the "Offer to Purchase and Circular") to its shareholders today in connection with its previously announced tender offer to purchase for cancellation up to 6,470,588 of its common shares for an aggregate purchase price of up to US$27.5 million. The Offer to Purchase and Circular is being filed with the securities regulatory authorities in the United States and Canada.

The tender offer will be conducted as a modified "Dutch auction", which will enable shareholders to select a price between US$4.25 per share and US$5.10 per share at which they are willing to tender their common shares to the offer. The purchase price will be the lowest price per share between US$4.25 and US$5.10 that enables Cardiome to purchase US$27.5 million of common shares. All common shares purchased under the offer will be purchased at the same price. Cardiome's directors and officers will not tender any of their common shares to the offer. The offer to purchase shares will expire on October 6, 2009 at 5:00 p.m. (Eastern Time), unless withdrawn or extended.

Oppenheimer Co. and Canaccord Capital Corporation (the "Dealer Managers") will serve as dealer managers for the tender offer in the United States and Canada, respectively, and Computershare Investor Services, Inc. (the "Depository") will act as depository.

Details of the Tender Offer

The Offer to Purchase and Circular contains full details of the tender offer and the procedures for tendering. The offer is not conditional upon a minimum number of common shares being tendered to the offer, but it is subject to certain other conditions that are specified in the Offer to Purchase and Circular. The offer to purchase shares will expire on Octo
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SOURCE Cardiome Pharma Corp.
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