Press release Communiqué de presse

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Press release Communiqué de presse

February 26, 2001 26 February, 2001

Pheromone Sciences Corp. Completes Private Placement

Pheromone Sciences Corp. (CDNX:PHS) today announced that it has completed a private placement of 2,000,000 special warrants of the Company at an issue price of $1.00 per special warrant. Each special warrant is exercisable, at no additional consideration, into one common share and one- half of a warrant. Each whole warrant will entitle the holder to purchase one common share of the Company at an exercise price of $1.25 per share for one year.

A prospectus has been filed to qualify the distribution of the common shares and warrants issuable upon the exercise of the special warrants and to abridge the one year hold period otherwise applicable.

The net proceeds of the offering will be used to support the Company's research and development program, ongoing operations, and business development.

Pheromone Sciences Corp. is a biotechnology and medical diagnostics device research and development company that focuses on commercializing technologies in the field of human reproduction and sexuality.

Statements contained in this press release, including those pertaining to scientific and clinical research, commercialization plans, strategic alliances, and intellectual property protection, other than statements of historical fact, are forward-looking statements subject to a number of uncertainties that could cause actual results to differ materially from statements made. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the contents of this news release.