Paladin Labs Inc. Announces Purchase of Shares of Afexa Life Sciences Inc.
MONTREAL, QUEBEC--(Marketwire - July 15, 2011) - Paladin Labs Inc. ("Paladin")(TSX:PLB), a leading Canadian specialty pharmaceutical company, today announced it has acquired common shares of Afexa Life Sciences Inc. (TSX: FXA) through market purchases on the Toronto Stock Exchange that give Paladin beneficial ownership of a total of 15,421,300 common shares of Afexa or approximately 14.94% of Afexa's total issued and outstanding common shares. The 5,374,500 common shares of Afexa acquired today were purchased for prices between $0.36 and $0.55. Paladin is considering its options regarding its investment in Afexa, which may include acquiring additional shares, or making a public offer for further shares of Afexa.
About Paladin Labs Inc.
Paladin Labs Inc, headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian market. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada's leading specialty pharmaceutical companies. Paladin's shares trade on the Toronto Stock Exchange under the symbol PLB. More information is available at www.paladinlabs.com. Paladin's registered and head office is located at 6111 Royalmount Avenue, Suite 102, Montreal, Quebec, H4P 2T4
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