Lorus Therapeutics Receives $600 Thousand From Escrow Account
July 16 2008 - 8:12AM
PR Newswire (US)
TORONTO, July 16 /PRNewswire-FirstCall/ -- Lorus Therapeutics Inc.
(TSX: LOR, AMEX: LRP) ("Lorus" or the "Corporation"), a
biopharmaceutical company specializing in the research and
development of pharmaceutical products and technologies for the
management of cancer, today announced that the Corporation has
received the $600 thousand originally held in escrow in connection
with Lorus' corporate reorganization completed on July 10, 2007.
The Corporation has received total net proceeds of $6.9 million in
non-dilutive financing as part of this transaction. For further
information about the corporate reorganization, please refer to our
press release dated July 10, 2007 available on Lorus' website or at
Sedar.com. Forward Looking Statements This press release may
contain forward-looking statements within the meaning of Canadian
and U.S. securities laws. Such statements include, but are not
limited to, statements relating to: our research program plans, our
plans to conduct clinical trials, the successful and timely
completion of clinical studies and the regulatory approval process,
our ability to fund future research, our plans to obtain partners
to assist in the further development of our product candidates, the
establishment of corporate alliances, the Company's plans,
objectives, expectations and intentions and other statements
including words such as "continue", "believe", "plan", "expect",
"intend", "will", "should", "may", and other similar expressions.
Such statements reflect our current views with respect to future
events and are subject to risks and uncertainties and are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by us are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors could cause our
actual results, performance or achievements to be materially
different from any future results, performance, or achievements
that may be expressed or implied by such forward-looking
statements, including, among others: our ability to obtain the
capital required for research and operations, the inherent risks in
early stage drug development including demonstrating efficacy,
development time/cost and the regulatory approval process; the
progress of our clinical trials; our ability to find and enter into
agreements with potential partners; our ability to attract and
retain key personnel; changing market conditions; and other risks
detailed from time-to-time in our ongoing quarterly filings, annual
information forms, annual reports and annual filings with Canadian
securities regulators and the United States Securities and Exchange
Commission. Should one or more of these risks or uncertainties
materialize, or should the assumptions set out in the section
entitled "Risk Factors" in our Annual Information Form underlying
those forward-looking statements prove incorrect, actual results
may vary materially from those described herein. These
forward-looking statements are made as of the date of this press
release and we do not intend, and do not assume any obligation, to
update these forward-looking statements, except as required by law.
We cannot assure you that such statements will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Investors are cautioned that
forward-looking statements are not guarantees of future performance
and accordingly investors are cautioned not to put undue reliance
on forward-looking statements due to the inherent uncertainty
therein. Lorus Therapeutics Inc.'s recent press releases are
available through the Company's website at
http://www.lorusthera.com/. For Lorus' regulatory filings on SEDAR,
please go to http://www.sedar.com/. For SEDAR filings prior to July
10, 2007 you will find these under the company profile for Global
Summit Real Estate Inc. (Old Lorus). DATASOURCE: Lorus Therapeutics
Inc. CONTACT: Lorus Therapeutics Inc., Dr. Saeid Babaei, (416)
798-1200 ext. 490,
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