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News CRYOCATH ANNOUNCES THE EXTENSION OF THE TERM OF THE OPTION GRANTED TO INVESTISSEMENT QUÉBECTHIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Montreal, Quebec, Canada - November 29, 2005 - CryoCath Technologies Inc. (TSX: CYT), today announced that it received approval from the TSX to extend the term of the option it granted to Investissement Québec under the Biolevier program (announced on September 29, 2003). The option to purchase up to 571,429 common shares of CryoCath at an exercise price of $6.19 per share with an initial term of five years will, 10 business days following the date hereof, be extended to a 10-year term, or February 11, 2014. Such extension was already provided in the agreement with Investissement Québec under the Biolevier program and was conditional upon changes being made to the rules of the TSX to allow for option to be granted with a term longer than five years. About Medtronic CryoCathCryoCath – www.cryocath.com – is a medical technology company that leads the
world in cryotherapy products to treat cardiovascular disease. With a priority
focus on providing physicians with a complete solution of catheter and surgical
products to treat cardiac arrhythmias, CryoCath has multiple products approved
in the U.S., across Europe and several ROW countries. The Company is developing
additional products to expand its pipeline of products to treat cardiac
arrhythmias and has development projects for the treatment of cardiac ischemia
(angina) and peripheral arterial disease (PAD). For further information, please contact:
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