Financing DiaGenic ASA

11/25/2009 11:32 AM EST

With reference to the statement in presentation of the 3rd Quarter report 2009 that the Board is working to secure further financing of the Company, DiaGenic and its advisors has now decided to carry out an equity offering through a private placement. The book building will start after the close of Oslo Stock Exchange today.

The new shares will be issued using existing proxies. The new shares will be offered in combination with a proposed issue of warrants.

The purpose of the placement is to finance operating costs and to strengthen the company’s working capital requirements.


Oslo, 25 November, 2009

The Board of Directors of DiaGenic ASA