Full Press Release Details
ANAVEX CLOSES PRIVATE PLACEMENT
Hoboken, NJ December 7, 2011 -- Anavex Life Sciences Corp.
( Anavex ) (OTCBB: AVXL) today announced the closing of a private placement of
615,600 units to two investors at a price of US$1.25 per unit for gross proceeds
of US$769,500. Each unit is comprised of one share of common stock of Anavex and
one half of one share purchase warrant. One whole share purchase warrant is
exercisable into one share of common stock of Anavex at an exercise price of
US$2.00 per share until December 6, 2012.
In connection with the issuance of the units, Anavex paid US
$57,000 in finders fees to one individual for facilitating the private
About Anavex Life Sciences Corp.
Anavex Life Sciences Corp. (www.anavex.com) is a specialty
pharmaceutical company engaged in the discovery and development of novel drug
candidates for the treatment of neurological diseases and cancer. The Anavex
proprietary SIGMACEPTOR Discovery Platform involves the rational design of drug
compounds targeted to specific receptors involved in the modulation of multiple
cellular biochemical signaling pathways.
The 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. A portfolio of back-up
compounds to ANAVEX 2-73 are also in development.
Anavex is a publicly traded company under the symbol AVXL.
Forward-Looking Statements
Statements in this press release that are not strictly
historical in nature are forward-looking statements. These statements are only
predictions based on current information and expectations and involve a number
of risks and uncertainties. Readers 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, except as required by applicable laws, including the securities laws of
the United States and Canada.
For Further Information
Anavex Life Sciences Corp.
Email: info@anavex.com
Shareholder & Media Relations
Toll-free: 1-866-505-2895
Outside North America: +1 (416) 489-0092
Email: ir@anavex.com