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Robert Butts holdings in Adherex Technologies Inc. (TSX: AHX)

^{Published on 2010-09-08 11:46:21 - Market Wire}
 

NASHVILLE, Sept. 8 /CNW/ - Robert Butts, announces that on September 1, 2010, pursuant to securities laws, he is deemed to have acquired beneficial ownership of 41,504,000 common shares of Adherex Technologies Inc. ("Adherex"), representing approximately 10.12% of the outstanding Common Shares  (including the Warrants).

The deemed acquisition of beneficial ownership in the common shares occurs as the commencement exercise date, being October 31, 2010, of previously acquired warrants is within 60 days following September 1, 2010. 

Mr. Butts acquired 41,504,000 units, consisting of a common share and common share purchase warrant, of Adherex at a per unit price of $0.03 through a private transaction on June 8, 2010.  

Mr. Butts now exercises control or direction over an aggregate of 41,504,000 Common Shares and 41,504,000 Warrants, representing approximately 20.25% of the outstanding Common Shares (including the Warrants).

Mr. Butts has acquired the Common Shares and Warrants for investment purposes. Depending on market and other conditions, Mr. Butts may change its beneficial ownership of, or control or direction over, Common Shares through market transactions, private agreements, treasury issuances, exercise of the Warrants or otherwise.

This press release has been issued in order to comply with applicable securities legislation.