Lorus Therapeutics announces revised closing date for proposed plan of arrangement
06 July 2007 - 7:39AM
PR Newswire (US)
TORONTO, July 5 /PRNewswire-FirstCall/ -- Lorus Therapeutics Inc.
("Lorus" or the "Company") (TSX: LOR; AMEX: LRP), a
biopharmaceutical company specializing in the research and
development of pharmaceutical products and technologies for the
management of cancer, today announced that the expected closing of
the proposed corporate reorganization of the Company, previously
announced to occur by July 4, 2007, will now occur on or about July
9, 2007. About Lorus Lorus is a biopharmaceutical company focused
on the research and development of novel therapeutics in cancer.
Lorus' goal is to capitalize on its research, preclinical, clinical
and regulatory expertise by developing new drug candidates that can
be used, either alone, or in combination with other drugs, to
successfully manage cancer. Through its own discovery efforts and
an acquisition and in-licensing program, Lorus is building a
portfolio of promising anticancer drugs. Lorus has completed one
Phase II and one Phase III clinical trial. Lorus Therapeutics Inc.
is listed on the Toronto Stock Exchange under the symbol LOR, and
on the American Stock Exchange under the symbol LRP. Forward
looking statements This press release contains forward-looking
statements within the meaning of Canadian and U.S. securities laws.
Such statements include, but are not limited to, statements
relating to: financings and corporate reorganizations, the
establishment of corporate alliances, the Company's plans,
objectives, expectations and intentions and other statements
including words such as "continue", "expect", "intend", "will",
"should", "would", "may", and other similar expressions. Such
statements reflect our current views with respect to future events
and are subject to risks and uncertainties and are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by us are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. Many factors could cause our actual results,
performance, achievements or the transactions described in this
press release to be materially different from any future results,
performance, achievements transactions described in this press
release, if at all, that may be expressed or implied by such
forward-looking statements, including, among others: the progress
of negotiations; our ability to obtain regulatory, securityholder
and other approvals; our ability to obtain the capital required for
research and operations; the inherent risks in early stage drug
development including demonstrating efficacy; development time/cost
and the regulatory approval process; the progress of our clinical
trials; our ability to find and enter into agreements with
potential partners; our ability to attract and retain key
personnel; changing market conditions; and other risks detailed
from time-to-time in our ongoing quarterly filings, annual
information forms, annual reports and annual filings with Canadian
securities regulators and the United States Securities and Exchange
Commission. Should one or more of these risks or uncertainties
materialize, or should the assumptions set out in the section
entitled "Risk Factors" in our filings with Canadian securities
regulators and the United States Securities and Exchange Commission
underlying those forward-looking statements prove incorrect, actual
results may vary materially from those described herein. These
forward-looking statements are made as of the date of this press
release and we do not intend, and do not assume any obligation, to
update these forward-looking statements, except as required by law.
We cannot assure you that such statements will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. Investors are cautioned that
forward-looking statements are not guarantees of future performance
and accordingly investors are cautioned not to put undue reliance
on forward-looking statements due to the inherent uncertainty
therein. Lorus Therapeutics Inc.'s recent press releases are
available through the Company's website at
http://www.lorusthera.com/. DATASOURCE: Lorus Therapeutics Inc.
CONTACT: Lorus Therapeutics Inc., Dr. Saeid Babaei, (416) 798-1200
ext. 490,
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