Press release Communiqué de presse

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Press release Communiqué de presse


August 16, 2002 16 August, 2002

Pheromone Sciences Corp. Completes Private Placement Offering


Toronto, Ontario -- August 16, 2002 -- Pheromone Sciences Corp. (TSXVenture Exchange:PHS) today announced that it has completed a private placement, of 1,300,000 units of the Company at an issue price of $0.25 per unit for gross proceeds of $325,000. Each unit will be exercisable, at no additional consideration, into one common share of the Company and one common share purchase warrant. Each common share purchase warrant has a term of 12 months and will be exercisable into one common share at an exercise price of $0.30 per share.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the contents of this news release.