News ReleasesProtox Announces Amendments To Certain Outstanding Warrants THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Vancouver, British Columbia, November 5, 2008, 2008 – Protox Therapeutics Inc. (the “Company”)(TSX: PRX) today announced that it will be amending the terms of up to 9,948,507 share purchase warrants expiring on November 29, 2008 to extend the expiry date of such warrants to December 22, 2008. The amendments will be effective on November 19, 2008. The warrants were issued in connection with a private placement which closed in two tranches in November and December 2006. Share purchase warrants issued in connection with the December 2006 tranche of the private placement will continue to expire on December 22, 2008. After giving effect to the amendments all of the Company’s outstanding warrants issued in connection with the 2006 private placement will have the same expiry date. Protox will not be delivering amended warrant certificates to holders of the amended warrants. Any warrantholder wishing to exercise the warrants may continue to use the original exercise form attached to the warrants. The amendments will not apply to any warrants held by insiders of the Company as at November 29, 2008. About Protox Certain statements included in this press release may be considered forward-looking. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on Protox’ current beliefs as well as assumptions made by and information currently available to Protox and relate to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by Protox in its public securities filings; actual events may differ materially from current expectations. Protox disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For further information contact: James Beesley Michael Moore |
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