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JENEX AND WARRANT HOLDER AGREE TO RESCIND 1,250,000 WARRENTS
January 16, 2006
Burlington, Ontario
THE JENEX CORPORATION (“Jenex”) (TSX Venture Exchange – JEN), Michael Jenkins, President and CEO of Jenex announces that conditional approval has been received from the TSX Venture Exchange for the cancellation of the bonus warrants announced in a press release dated April 29, 2005. A total of one million two hundred and fifty thousand (1,250,000) bonus warrants, exercisable at $0.14 per common share, and the issuance of 300,000 common shares at a deemed price of $0.105 as bonus shares to an arm’s length party as consideration for facilitating the loan, have been rescinded. This transaction has been agreed to by the participating parties.
Additionally, pursuant to the Corporation’s stock option plan, (the “Plan”), the Corporation is authorizing to reserve 1,335,000 common shares in the capital stock of the Corporation. These options will be distributed to directors, officers, employees and consultants of the Corporation. The options shall be exercisable at a price of $0.30 per common share and remain in effect for a period of 5 years from the date of grant. This transaction is subject to TSX Venture Exchange approval.
About The Jenex Corporation
Headquartered in Burlington, Ontario, the Corporation owns a patented Thermal Therapy technology. Patents in the United States, Canada, Australia, and Europe protect the technology. The first device developed from this technology is the Therapik® product, for insect stings and bites. The second device, interceptCS is the first product proven and approved to prevent cold sores. Jenex has been approved to market interceptCS in Canada with its approved 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”. The Corporation is preparing for the launch of interceptCS in the Canadian market in the first quarter 2006. Regulatory approvals are being pursued for USA, Europe and Australia. It is estimated that between 45 and 90 million people in North America suffer from recurrent cold sores. More information about the Corporation can be found at: www.jenexcorp.com .
Enquiries:
Michael A. Jenkins, President
The Jenex Corporation
940 Sheldon Court, Suite 207
Burlington, Ontario
L7L 5K6
Telephone: (905) 632-3830
Facsimile: (905) 632-3774
Email: jenex@jenexcorp.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or the contents of this press release. Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events.
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