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Gold/Mining/Energy : TM Bioscience Corp. tmc.v -- Ignore unavailable to you. Want to Upgrade?

To: Norm Gardner who wrote (49)	3/25/1998 12:40:00 AM
From: DJB	Read Replies (1) \| Respond to of 137

TO ALL: NEWS RELEASE RE: SHARE OPTIONS Tuesday March 24, 6:29 pm Eastern Time Company Press Release Tm Bioscience Corporation Company Update TORONTO--(BUSINESS WIRE)--March 24, 1998--Tm Bioscience Corpor(VSE:TMC. - news) Mr. Don MacAdam reports: The board of directors of Tm has adopted, subject to regulatory and shareholder approval, a Share Option Plan (the ''Plan''). In the view of the board of directors of Tm, ownership of shares of Tm by the employees, officers and directors of Tm and its subsidiary will serve to advance the interests of Tm by increasing their proprietary interest in the success of Tm. The Plan provides that the aggregate number of common shares of Tm available for issuance is 6,5000,000 of the authorized but unissued common shares of Tm (subject to adjustment as provided in the Plan), which represents approximately 14.8 % of Tm's issued and outstanding capital as of the date hereof (on a non-diluted basis). The 3,825,000 outstanding options to purchase common shares of Tm under previously granted share option agreements will be contained under the Plan in accordance with their terms. Tm Bioscience Corporation has developed five proprietary product platforms -- biochips, therapeutics, gene expression, diagnostics and genomic analysis. Tm's products are embodiments of the self-processing code of DNA. This ''second-genetic code'' is a sequence-dependent property of DNA governing the ability of DNA to enter into chemical reactions. Tm is a DNA products company based in Toronto, Ontario with a subsidiary, Tm Technologies, Inc., in Woburn, Massachusetts. The Vancouver Stock Exchange has neither approved nor disapproved of the information contained herein. ------------------------------------------------------------------------ Contact: Tm Bioscience Corporation Don MacAdam, 416/593-4323