Full Press Release Details
ANAVEX CLOSES PRIVATE PLACEMENT
Portola Valley, CA February 10, 2012 -- Anavex Life Sciences
Corp. ( Anavex ) (OTCBB: AVXL) today announced the closing of a private
placement of 270,000 units of the company to three investors at a price of
US$1.25 per unit, for gross proceeds of US$337,500. Each unit is comprised of
one share of common stock and one-half of one share purchase warrant. One whole
share purchase warrant is exercisable into one share of common stock at an
exercise price of US$2.00 per share for a period of 12 months.
Anavex also announced the issuance of 8,000 units at a deemed
value of US$1.25 per unit to a director of Anavex for his services during the
month of January, 2012. Each unit consists of one share of common stock and
one-half of one share purchase warrant. Each whole warrant is exercisable at
US$2.00 for one share of common stock for a period of 12 months.
The company has extended the expiry date of warrants issued to
one creditor by one year and reduced the exercise price of same from US$3.50 to
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
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