Chemaphor Inc. Issues Shares in Satisfaction of Principal and Interest

Chemaphor Inc. (TSX VENTURE:CFR), today announced that it will issue a total of
4,721,132 common shares in satisfaction of $380,000 in principal and $24,903 in
interest accrued to December 31, 2010 on convertible debentures issued by
Chemaphor on April 30, 2009. This issuance will satisfy Chemaphor's obligations
under those debentures and result in their cancellation.


Pursuant to the terms of the debentures, Chemaphor had the option to satisfy
principal payments by delivery common shares based on 95% of the market price of
the common shares on the TSX Venture Exchange at the time of settlement and to
satisfy interest payments by delivery of common shares based on the market price
of the common shares on the TSX Venture Exchange at the time of settlement. The
market price per common share determined in accordance with the terms of the
debentures was $0.09, being the last closing price of the Chemaphor common
shares on the TSX Venture Exchange prior to December 31, 2010.


About Chemaphor

Chemaphor, a wellness company, is committed to developing and delivering
products to humans and animals to assist in optimizing health and daily quality
of life. Chemaphor is advancing product candidates for the food animal market,
companion animal market and various, potential human applications. More
information can be found at www.chemaphor.com.