Persistence Capital Partners acquires additional stake in Warnex Inc.

MONTREAL, Oct 7 /CNW Telbec/ - Persistence Capital Partners LP ("PCP"), a leading Canadian private equity firm focused exclusively on investments in high-growth opportunities in the healthcare field, today announced that it has acquired by way of private agreement 1 500 000 common shares representing approximately 2.2% of the issued and outstanding common shares, 692,042 warrants to acquire common shares and $0.5 million principal amount of non-convertible debentures of Warnex Inc. ("Warnex", TSX:  WNX), a life sciences company devoted to providing laboratory services to the pharmaceutical and healthcare sectors. 

Immediately following the transaction, PCP will own 12,238,750 common shares of Warnex, representing approximately 18.2% of the issued and outstanding common shares and, assuming exercise of the acquired warrants and the conversion of all debentures held by PCP, approximately 21.9% of the common shares.

This press release is issued pursuant to the early warning report requirements of applicable securities laws of Canada which also requires a report to be filed on SEDAR containing additional information  with respect to the foregoing matters. A copy of such early warning report can be found on SEDAR (www.sedar.com).

PCP acquired the common shares, the warrants and the non-convertible debentures for investment purposes only. Depending on the evolution of Warnex's business, financial condition, the market for Warnex securities, general economic conditions and other factors, PCP may acquire additional securities of Warnex or sell some or all of the securities it holds, in the open market, by private agreement or otherwise, subject to market conditions and other relevant factors.

About Persistence Capital Partners

Persistence Capital Partners is a leading investment firm exclusively focused on high-growth opportunities in the healthcare field.  With its deep industry expertise, PCP aims to create significant long term capital appreciation by identifying and developing attractive investment opportunities in the healthcare market, with a focus on healthcare services businesses across a broad spectrum of the healthcare sector.

For further information:

Lloyd M. Segal
Partner, Persistence Capital Partners
Tel: [phone]