Business
Microbix' CEO Sells Shares to Invest in China Vaccine Joint Venture
Jan. 6, 2011 (Canada NewsWire Group) -- TORONTO, Jan. 6 /CNW/ - Microbix Biosystems Inc. (TSX...
About this update from Microbix Biosystems Inc.
[{"type":"text","content":"\n\n\n\n Jan. 6, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, Jan. 6 /CNW/ - Microbix Biosystems Inc. (TSX: MBX), a\n biotechnology company commercializing novel biological technologies for\n human healthcare and livestock management, in addition to a core\n business of virology products, today reported that William J. Gastle,\n Chairman and Chief Executive Officer, sold 250,700 of Microbix common\n shares at $0.405. The full proceeds of Mr. Gastle's sale of Microbix\n stock was re-invested in Crucible International Biotechnologies Corp.,\n Microbix' majority owned subsidiary that is investing directly in the\n influenza manufacturing joint venture in China.  The transaction was\n part of the recent financing for Crucible. \n\n\nIn December, Microbix completed the private placement financing of\n Crucible, which was over-subscribed, attracting worldwide investors and\n company management. Microbix owns approximately 80% of Crucible.  The\n financing gives Crucible a valuation of $14 million.\n\n\n"It was important to demonstrate my confidence in the Joint Venture's\n success to other Crucible investors and to shareholders of Microbix.  I\n am pleased that other Microbix directors and management have also\n invested directly in Crucible."\n\n\nThe establishment of Crucible and the successful start-up financing is a\n major milestone for the Hunan joint venture and for Microbix and its\n shareholders. Hunan and Crucible are now movin...