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Gold/Mining/Energy : Nuvo Research Inc -- Ignore unavailable to you. Want to Upgrade?

To: Montana Wildhack who wrote (8430)	1/14/2002 5:00:30 PM
From: Cal Gary	Read Replies (2) \| Respond to of 14101

Phew that was close. NewsRelease $4.0mm Draw: Dimethaid draws $4.0 million against its financing facility TORONTO, Jan. 14 /CNW/ - Dimethaid Research Inc. (TSE: DMX) announced today that the Company has effected a draw pursuant to its January 2001 private placement agreement with Acqua Wellington North American Equities Fund, Ltd. Dimethaid issued Acqua Wellington 900,522 shares of common stock and received net proceeds of $4,000,000. Proceeds are to be used largely to support the continued preparation for a North American launch of PENNSAID(R). "As our shareholders are aware from our last Presidents Message and other recent updates, this is an extremely busy time for us. The flexibility afforded by our financing agreement with Acqua Wellington is important at this time of rapid change, and it allows us to focus on the many critical steps on our path to becoming the multi-product operating company our shareholders expect." said Rebecca Keeler, President and CEO. "This is the major reason we were pleased to be able to extend our arrangement with Acqua Wellington into May, 2002, it allows us to focus on the important issues at hand, such as making PENNSAID(R) available in the US, Canada, and across Europe." While regulatory approval is pending for PENNSAID(R), development continues on other applications utilizing Dimethaid's transdermal carrier, and on completing clinical trials with WF10 in HIV/AIDS. Dimethaid Research Inc. is a pharmaceutical company engaged in the development and commercialization of innovative therapeutic products that offer the potential to minimize the unwanted systemic effects of drug therapy on the body. Dimethaid's proprietary drug delivery technology utilizes the cell's tubule system to deliver drugs cell-to-cell. As a result, patients are able to treat localized conditions, such as osteoarthritis, while limiting the body's absorption of, and associated risks from, the medication. This technology has been applied first to produce PENNSAID(R) Topical Solution. The Company's business development strategy is to leverage its proprietary transdermal delivery technology into additional commercial products. For additional information on the Company, please visit www.dimethaid.com. This release may contain forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors outside management's control that could cause actual results to differ materially from those expressed in the forward-looking statements. A discussion of such risk factors is included in the Company's AIF filed with the OSC and includes, without limitation, risks regarding product development, clinical trials, dependence on third parties for development and licensing arrangements, and risks involving regulatory approval of products, licenses and patents. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. %SEDAR: 00002418E