Press release Communiqué de presse

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Press release Communiqué de presse


December 16, 2003 16 December, 2003

Pheromone Sciences Corp. Announces that Rights Offering Does Not Hit Minimum Levels


Toronto, Ontario - December 16, 2003 - Pheromone Sciences Corp. (TSX-V: PHS) today announced that its Shareholder Rights Offering, which expired on December 12, 2003, has not raised the minimum gross proceeds of $285,000.

Accordingly, the Company will not be accepting subscriptions to acquire common shares pursuant to the exercise of rights and will return any subscription funds received to subscribers without interest. The company is scaling down its operations to conserve available cash while it aggressively pursues other financing options with a view to sustain the Company to pursue promising options to achieve licensing and commercialization of its Fertility Monitor product.

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

INVESTOR CONTACT Lorne Woods (800) 937-3095 investor@pheromonesciences.com www.pheromonesciences.com