Persistence Capital Partners acquires stake in Warnex Inc.

MONTREAL, Sept. 20 /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, approximately 16% of the issued and outstanding shares and $1.5 million principal amount of 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 10,738,750 common shares of Warnex, representing approximately 16.0% of the issued and outstanding common shares and, assuming the conversion of the acquired debentures, approximately 19.0% 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 and the convertible debentures for investment purposes only as an accredited investor pursuant to the exemption set forth in section 2.3 of National Instrument 45-106 Prospectus and Registration Exemptions. 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 Segal
Partner, Persistence Capital Partners
Tel: [phone]