Welichem Announces Closing Of Non-Brokered Private PlacementBURNABY, BRITISH COLUMBIA (CNW – June 7, 2007) – Welichem Biotech Inc. (the “Company”) (TSX-V: WBI), is pleased to announce that it has closed its non-brokered private placement announced on March 28, 2007. The Company has raised gross proceeds of CDN $1,000,000 through the issuance of 6,666,667 common shares. All securities issued under the private placement will have a hold period expiring on October 9, 2007. Finder’s fees of $66,842.27 are payable in connection with the private placement. The proceeds from the financing will be used by the Company to fund research, development and working capital. About Welichem Biotech Inc. Welichem Biotech Inc. is a publicly-traded biotechnology company developing therapeutic drugs in the fields of autoimmune diseases and cancer. ON BEHALF OF THE BOARD The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. For further information York Yingping Guo, Tel.: (604) 432-1703, Email: yorkguo@welichem.com |