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Debt Reduced Through Issuance Of Jenex Common Stock
THE JENEX CORPORATION
“Prevention is the Solution”
Press Release
FOR IMMEDIATE RELEASE
May 8, 2002
Burlington, Ontario
The Jenex Corporation (TSX – “Jen”), the first company to receive marketing clearance from an internationally recognized regulatory body to make the prevention claim for cold sores, is pleased to announce that 150,000 common shares of the Corporation will be issued at the current market price less the permitted market discount to the Corporation’s professional advisors and consultants for services provided to the corporation. The transaction is subject to customary regulatory approval and the shares will be subject to a four-month hold period from the date of issue. Management of the Corporation believes this transaction underscores the long term growth prospects of the Corporation and demonstrates a strong vote of support for its therapeutic cold sore device.
About The Jenex Corporation
Headquartered in Burlington, Ontario, the Corporation has developed and patented a thermal therapeutic device for the prevention of cold sores. Patents in fifteen countries, including the United States, Canada, Australia, and the E.E.C protect the technology. Clearance from regulatory, Therapeutic Products Programme (TPP), in Canada has been received to market their thermal therapy device, over-the-counter (OTC) with the claim “For prevention and relief of the symptoms of herpes labialis (cold sores), such as blistering, lesions, inflammation, and discomfort. Also helps alleviate the embarrassment that is typically associated with herpes labialis (cold sore) outbreaks”. A medical device license has been issued by TPP, in accordance with Medical Device Regulations. Jenex is the first company to receive clearance to market from a significant regulatory body to make the prevention claim for cold sores.
The Corporation is currently seeking approval from FDA to make a similar marketing claim in the United States. Management of the Corporation expects a response from the FDA in the 2nd quarter of 2002.
Jenex is now seeking a strategic corporate partner to license and commercialize their thermal therapy technology. Several Multi-National Companies have signed Confidentiality Agreements and are in various stages of due diligence.
The HSV-1 virus that causes cold sores, is endemic in North America, and is estimated to affect 80% of the population. As the only product clinically proven to prevent the outbreak of cold sores, the Corporation’s thermal therapy product has the potential to dominate a large and underdeveloped market.
The Canadian Venture Exchange Inc. has not reviewed and does not accept responsibility for the accuracy or the contents of this press release.
“Prevention is the Solution”
The Jenex Corporation
207 - 940 Sheldon Court
Burlington, Ontario, L7L 5K6
Michael A. Jenkins, President
Telephone: (905) 632-3830
Facsimile: (905) 632–3774
Email: Jenex@sprint.ca
Website: www.jenexcorp.com
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