LAVAL, QUEBEC--(Marketwire -02/02/12)- Warnex Inc. (TSX: WNX.TO - News) ("Warnex") is pleased to announce that it has reached an agreement with Persistence Capital Partners LP ("PCP") to extend the maturity date of one of its outstanding convertible debentures held by PCP. PCP currently holds a convertible debenture of Warnex in the principal amount of $1,230,969 maturing on January 31, 2012 (the "January 2012 Debenture") and a further convertible debenture of Warnex in the principal amount of $346,702 maturing on February 29, 2012. Under the terms of the agreement reached with PCP, Warnex has paid $250,000 to PCP, in payment of all outstanding interest and fees currently owing to PCP and in partial repayment of the principal amount owing pursuant to the January 2012 Debenture, in exchange for an extension of the maturity date on the balance of the January 2012 Debenture to February 29, 2012.
Warnex (www.warnex.ca) is a life sciences company whose operations, following the pending sale of its Analytical Services division, are focused on bioequivalence and bioavailability studies for clinical trials at its facility located in Laval, Quebec.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release are forward-looking and are subject to numerous risks and uncertainties, known and unknown. For further information identifying known risks and uncertainties, relating to financial resources, liquidity risk, key customers and business partners, credit risk, foreign currency risk, government regulations, laboratory facilities, volatility of share price, employees, suppliers, and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the heading Risks and Uncertainties in Warnex's most recent Management's Discussion and Analysis, which can be found at www.sedar.com. Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.