Press release Communiqué de presse

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Press release Communiqué de presse

January 22, 2001 22 January, 2001

Pheromone Sciences Corp. Announces Private Placement Offering

Pheromone Sciences Corp. (CDNX:PHS) today announced that, subject to regulatory approval, it intends to offer for sale, via private placement, up to 2,200,000 special warrants of the Company at an issue price of $1.00 per special warrant. Each special warrant will be exercisable, at no additional consideration, into one common share of the Company.

The private placement is scheduled to close in February, 2001.

Following closing, the Company will file a prospectus to qualify the distribution of the common shares issuable upon exercise of the special warrants.

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.