New Issue: Ondine arranges C$1.78 million share exchange with Grafton Resource

By Devika Patel

Knoxville, Tenn., May 19 - Ondine Biopharma Corp. announced a C$1.78 million share exchange transaction with Grafton Resource Investments Ltd.

Ondine will issue 14,851,250 shares, valued at C$0.12 per share and representing C$1.78 million, in exchange for 39,042 of Grafton's ordinary shares, valued at $38.42 per share.

Ondine, based in Vancouver, B.C., develops non-antibiotic therapies for the treatment of bacterial, fungal and viral infections.

Issuer:	Ondine Biopharma Corp.
Issue:	Shares issued in exchange for 39,042 of Grafton's ordinary shares
Amount:	C$1,782,150
Shares:	14,851,250
Price:	C$0.12
Warrants:	No
Investor:	Grafton Resource Investments Ltd.
Pricing date:	May 19
Stock symbol:	Toronto: OBP
Stock price:	C$0.12 at close May 15
Market capitalization:	C$9.1 million

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