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Nuvo Research announces early redemption of 5% convertible debentures
Date:2/4/2010

MISSISSAUGA, ON, Feb. 4 /PRNewswire-FirstCall/ - Nuvo Research Inc. (TSX: NRI), a Canadian drug development company focused on the research and development of drug products that are delivered to and through the skin using its topical and transdermal drug delivery technologies, and on the development of its immune modulating drug candidate WF10, today announced that it has issued a notice of redemption to holders of its 5% convertible debentures due November 16, 2010 (the "Debentures"), stating that it will redeem the outstanding $3,486,000 principal amount of Debentures for cash on March 12, 2010 ("the Redemption Date"). A redemption amount of $1,035.75 (the "Redemption Price") will be paid for each $1,000 of principal amount of Debentures, being an amount equal to the aggregate of i) $1,020 for each $1,000 principal amount of Debentures plus ii) all accrued and unpaid interest up to but excluding the Redemption Date.

Holders of the Debentures have the right to convert their Debentures into common shares at a conversion price of $0.138 at any time prior to the close of business on the business day immediately preceding the Redemption Date by duly completing the required notice of conversion and delivering same at the place of business of Computershare Trust Company of Canada, such that approximately 7,246.377 common shares shall be issued for each $1,000 principal amount of Debentures so converted. Holders converting their Debentures shall be entitled to receive, in addition to the applicable number of shares, accrued and unpaid interest for the period up to but excluding
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SOURCE Nuvo Research Inc.
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