Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > ViRexx Announces Failure to Secure an Alternative Equivalent Funder to Replace LM Funds Corp.

Abstract:
ViRexx Medical Corp. (TSX:VIR) (AMEX:REX), a company focused on developing innovative-targeted therapeutic products that offer better quality of life and a renewed hope for living announces that it has been unable to secure alternative equivalent financing to replace the funding LM Funds Corp. ("LM") failed to advance as the Standby Guarantor for the Company's rights offering.

ViRexx Announces Failure to Secure an Alternative Equivalent Funder to Replace LM Funds Corp.

Edmonton, AB, Canada | Posted on September 15th, 2008

As a result of LM's failure to meet its standby commitment related to the Company's rights offering and the lack of alternative equivalent financing, the following actions have taken place:

- The following members of the Board have tendered their resignation effective September 14, 2008: Jacques LaPointe, Douglas Gilpin, Yves Cohen and Michael Marcus;

- Darrell Elliott will remain as Chairman of the Board of Directors and interim Chief Executive Officer;

- All other officers of the Company, including the Chief Financial Officer, Brent Johnston, CA, have resigned effective September 14, 2008; and

- All of the employees of the Company have been laid off indefinitely.

Management intends to appoint an operating committee to manage the day-to-day operations of the Company and oversee an orderly restructuring of its assets.

Shareholders who deposited funds for the purchase of common shares under the rights offering will receive a full refund of their subscription funds from the Company through Computershare Investor Services Inc., the Subscription Agent under the rights offering.

####

About ViRexx Medical Corp.
ViRexx is a Canadian-based development-stage biotech company focused on developing innovative-targeted therapeutic products that offer better quality of life and a renewed hope for living. Our platform technologies include product candidates for the treatment of Hepatitis B, Hepatitis C, avian influenza viral infections, biodefence and nanoparticle applications, select solid tumors and late-stage ovarian cancer.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

The TSX has not approved or disapproved of the information contained herein.

For more information, please click here

Contacts:
ViRexx Medical Corp.
Darrell Elliott
Chairman and Chief Executive Officer
(780) 433-4411
(780) 436-0068 (FAX)
Email:

Copyright © Marketwire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Conductive Inks: booming to $2.8 billion by 2024 April 17th, 2014

High-temperature plasmonics eyed for solar, computer innovation April 17th, 2014

INSCX™ exchange to present Exchange trade reporting mechanism for engineered nanomaterials (NMs) to UK regulation agencies, insurers and upstream/downstream users April 17th, 2014

Transparent Conductive Films and Sensors Are Hot Segments in Printed Electronics: Start-ups in these fields show above-average momentum, while companies working on emissive displays such as OLED are fading, Lux Research says April 17th, 2014

Investments/IPO's/Splits

Harris & Harris Group Continues Its Blog Series to Highlight Most Impactful Portfolio Companies With Champions Oncology, Inc. April 17th, 2014

Nanometrics to Announce First Quarter Financial Results on April 29, 2014 April 9th, 2014

Harris & Harris Group Notes Mersana's Collaboration Agreement With Subsidiary of Takeda Pharmaceutical Co. April 8th, 2014

Harris & Harris Group Continues Its Blog Series to Highlight Most Impactful Portfolio Companies With Metabolon, Inc. April 7th, 2014

Nanomedicine

Novel stapled peptide nanoparticle combination prevents RSV infection, study finds April 17th, 2014

More effective kidney stone treatment, from the macroscopic to the nanoscale April 17th, 2014

High-temperature plasmonics eyed for solar, computer innovation April 17th, 2014

Harris & Harris Group Continues Its Blog Series to Highlight Most Impactful Portfolio Companies With Champions Oncology, Inc. April 17th, 2014

Announcements

More effective kidney stone treatment, from the macroscopic to the nanoscale April 17th, 2014

High-temperature plasmonics eyed for solar, computer innovation April 17th, 2014

INSCX™ exchange to present Exchange trade reporting mechanism for engineered nanomaterials (NMs) to UK regulation agencies, insurers and upstream/downstream users April 17th, 2014

Transparent Conductive Films and Sensors Are Hot Segments in Printed Electronics: Start-ups in these fields show above-average momentum, while companies working on emissive displays such as OLED are fading, Lux Research says April 17th, 2014

NanoNews-Digest
The latest news from around the world, FREE







  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE