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

To: Herb Duncan who wrote (11943)	1/23/2003 9:06:53 AM
From: PlayTheKing	Read Replies (1) \| Respond to of 14101

Dimethaid announces pricing of rights offering Thursday January 23, 9:00 am ET TORONTO, Jan. 23 /CNW/ - Specialty pharmaceutical company, Dimethaid Research Inc. (TSX: DMX - News) is pleased to announce that it has priced its shareholder rights offering previously filed with the securities commissions in each of the provinces of Canada. Under the offering, shareholders will receive one right for each common share held on the record date. Four rights will entitle an eligible shareholder to purchase one common share at a price of CDN $2.00 per common share. Rights not exercised on or before the expiry date will be void and have no value. If fully subscribed, this rights offering is expected to raise approximately CDN $26 million. This offering is subject to securities, regulatory and Toronto Stock Exchange approvals. Following approval, the company's transfer agent will mail a rights offering circular to shareholders, indicating both the record date and the expiry date. The circular, when mailed, will describe all the conditions governing the offering. Proceeds will be used for general corporate purposes, including the Canadian launch of the company's lead product, PENNSAID(R), as well as for capital expenditures and development of new products based on the company's proprietary technology platforms. About Dimethaid Research Inc. Dimethaid Research Inc. is a publicly traded, Canadian, pharmaceutical company headquartered in Markham, Ontario, with manufacturing facilities in Varennes, Québec and Wanzleben, Germany. The company develops and commercializes targeted therapeutic drugs that produce minimal side effects. Dimethaid's two technology platforms focus on transcellular drug delivery and immune system regulation. Products have potential applications in such areas as osteoarthritis, onychomycosis and HIV/AIDS. For more information, please visit www.dimethaid.com. This release may contain forward-looking statements, subject to risks and uncertainties beyond management's control. Actual results could differ materially from those expressed here. Risk factors are discussed in the Company's annual information form filed with the securities commissions in each of the provinces of Canada. The Company undertakes no obligation to revise forward-looking statements in light of future events. For further information Dimethaid Research Inc. Investor Relations, Tel. (905) 415-1446, info@dimethaid.com Archived images on this organization are available through CNW E-Pix at newswire.ca. Images are free to members of The Canadian Press. To request a free copy of this organization's annual report, please go to newswire.ca and click on reports@cnw. -------------------------------------------------------------------------------- Source: Dimethaid Research Inc.