On December 23, 2009, GeneNews Limited (TSX: GEN) completed the final tranche of a non-brokered private placement offering of its common shares. The private placement was fully subscribed resulting in the issuance of an aggregate of 5,134,444 common shares from treasury at a price of $0.45 per share, for total gross proceeds in the amount of $2,310,499.80.

GeneNews is an emerging molecular diagnostics company focused on the application of functional genomics to enable early diagnosis and personalized health management based on disease-specific biomarkers.

GeneNews was advised in this transaction by a team from Fasken Martineau that included Geoff Clarke, Martin Fisher-Haydis and Amira Abouali (corporate/securities).