New Issue: MethylGene negotiates C$1.57 million private placement of common stock

By Devika Patel

Knoxville, Tenn., Oct. 14 - MethylGene Inc. said it plans a C$1.57 million private placement of stock.

The company will sell 3,686,182 common shares at an approximate price of C$0.43 apiece to Otsuka Pharmaceutical Co., Ltd.

MethylGene is a biopharmaceutical company based in Montreal.

Issuer:	MethylGene Inc.
Issue:	Common shares
Amount:	C$1,573,410
Shares:	3,686,182
Price:	C$0.43 (approximate)
Warrants:	No
Investor:	Otsuka Pharmaceutical Co., Ltd.
Pricing date:	Oct. 14
Stock symbol:	Toronto: MYG
Stock price:	C$0.36 at close Oct. 14
Market capitalization:	C$13.2 million

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