Full Press Release Details
ANAVEX ANNOUNCES PRIVATE PLACEMENT
Hoboken, New Jersey, November 30, 2010 Anavex Life Sciences
Corp. ( ANAVEX or the Company ) (OTCBB: AVXL) announces that it closed a
Private Placement of Units
On November 26, 2010 the Company issued 29,851 units at a
purchase price of US$3.35 per unit for gross proceeds of US$100,000. Each unit
consists of one share of our common stock and one-half of one share purchase
warrant. Each whole share purchase warrant entitles the holder to purchase one
share of our common stock at a purchase price of US$4.50 per share for a period
of 24 months. A finders fee of 2,985 Units, or 10%, is being paid to an offshore
About Anavex Life Sciences Corp.
Anavex Life Sciences Corp. (www.anavex.com) is a biopharmaceutical company engaged
in the discovery and development of novel drug candidates for the treatment of
neurological and cancer diseases. The company's proprietary SIGMACEPTOR
Discovery Platform involves the rational design of drug compounds targeted to
specific receptors involved in the modulation of multiple cellular biochemical
ANAVEX's SIGMACEPTOR -N program involves the development of
novel drug candidates that target neurological and neurodegenerative diseases
(Alzheimer's disease, epilepsy, depression, pain). The company's lead drug
candidates exhibit high affinity for sigma receptors, which have been
extensively documented as potentially valuable drug targets and have
demonstrated anti-amnesic and neuroprotective properties.
Anavex is a publically traded company under the symbol
Forward-Looking Statements
Statements in this press
release that are not strictly historical in nature are forward-looking
statements. Forward-looking statements in this press include that we discover
and develop novel drugs for neurological and cancer diseases; and that our drugs
are potentially valuable for disease treatment. These statements are only
predictions based on current information and expectations and involve a number
of risks and uncertainties. Actual events or results may differ materially from
those projected in any of such statements due to various factors, including the
risks and uncertainties inherent in drug discovery and development, which
include, without limitation, the potential failure of development candidates to
advance through preclinical studies or demonstrate safety and efficacy in
clinical testing; the inability of the company to finance the full development
of its drugs; the ability to file an IND or commence clinical studies; the
inability to get regulatory approval; the potential of harmful side effects; and
the likelihood of our competitors developing better or cheaper alternatives. You
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. All forward-looking statements are
qualified in their entirety by this cautionary statement and Anavex Life
Sciences Corp. undertakes no obligation to revise or update this press release
to reflect events or circumstances after the date hereof.
For Further Information
Anavex Life Sciences Corp.
Research & Business Development
Email: info@anavex.com
Shareholder & Media Relations
Outside North America: +1 (416) 489-0092
Email: ir@anavex.com