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To: f-1bar who wrote (13157)	2/21/2000 2:36:00 PM
From: richhhh	Read Replies (1) \| Respond to of 77509

f-1bar, TORONTO, Feb. 21 /CNW/ - The Toronto Stock Exchange has issued the following trading halt: Issuer Name: PROMETIC LIFE SCIENCES INC. TSE Ticker Symbol: PLI Time of Halt: 1:43 Reason for Halt: Pending News Et la nouvelle est: PROMETIC LIFE SCIENCES INC. ANNOUNCES A $3.1 MILLION NEW FINANCING AND THE CLOSING OF A PREVIOUS PRIVATE PLACEMENT MONTREAL, Feb. 21 /CNW/ - ProMetic Life Sciences Inc. (ProMetic : Toronto : PLI) announces having reached an agreement in- principle in respect of a private placement of 3,629,295 units at $0.85 per unit for aggregate gross proceeds of approximately $3.1 million. Each unit is comprised of one Subordinate Voting Share and one-half of a Warrant. Each whole Warrant entitles the holder thereof to purchase one Subordinate Voting Share at any time between the date of issuance and a period of 12 months thereafter, at a price of $1.10 per share. This private placement is subject to receipt of all regulatory approvals. ProMetic also announces the closing, on February 18, 2000, of a previously announced $2.0 million private placement of preferred shares detailed as follows : 1,050,000 Series ``A' Preferred Shares for aggregate gross proceeds of $1,050,000 and of 850,000 Series ``B' Preferred Shares for the aggregate gross proceeds of $850,000. Holders of the Preferred Shares shall be entitled to a preferential, cumulative dividend of 12% per year, payable quarterly. Preferred Shares shall be non-voting and are convertible into Subordinate Voting Shares of ProMetic at $0.50 per share (Series ``A') and at $0.60 per share (Series ``B') except for unpaid dividends, which are convertible at a rate equal to the 20-day trading average of ProMetic's' Subordinate voting Shares on the Toronto Stock Exchange as of their respective due dates. An amount of $1.0 million had already been advanced to ProMetic. This private placement was the subject of a previous press release dated December 22, 1999. ProMetic Life Sciences Inc. through its subsidiary ProMetic BioSciences Inc., is a biopharmaceutical company which uses its unique technology in the fields of bioseparation, medical devices, drug delivery and the development of its own biopharmaceutical products. The headquarters of ProMetic Life Sciences Inc. are in Montreal and it has operations in Canada, the United States and the U.K. Its shares are traded on the Toronto stock exchange under the ticker symbol PLI. Richhhh -30-