IDB COMPLETES PRIVATE PLACEMENT FINANCING AND ACQUISITION OF ALL MINORITY ID VACCINE SHARES.VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 17, 1995--ID Biomedical Corp. (IDB (ITS Data Bus) An interface between devices in an automobile endorsed by the Society of Automotive Engineers (SAE). Designed to fulfill the goal of Intelligent Transportation Systems (ITS), the ITS Data Bus enables engine diagnostic equipment, GPS navigation systems, ) announced today that it has completed its previously announced Special Warrants private placement for US$1,000,000.The total number of Special Warrants issued under this private placement was 134,116 and they are exchangeable into common shares of IDB on a one for one basis upon clearance of a prospectus. The net proceeds from this private placement will be used to fund ongoing research and development and for general corporate purposes. In addition, IDB has exchanged 472,925 Special Warrants for all issued and outstanding ID Vaccine Corp. (IDV IDV intermittent demand ventilation. ) shares that were not already owned by IDB. IDV is now a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of IDB. The Special Warrants are exchangeable into common shares of IDB on a one for one basis. ID Biomedical Corp. is a Canadian biotechnology company which is developing a nucleic acid diagnostic system based on its proprietary SLT and CPT CPT See: Carriage Paid To technologies. The lead products under development by IDB for this system are rapid and direct tests for tuberculosis and MAC. The company, through its subsidiary ID Vaccine Corp., is also developing a subunit vaccine against tuberculosis. ID BIOMEDICAL CORPORATION Dr. Anthony Holler Medical Director -0- Neither NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on , The Montreal Exchange nor the Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has approved or disapproved of the information contained herein. CONTACT: Hugh Notman Director, Corporate Communications or Dr. Anthony Holler Medical Director 604/431-9314 |
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