Chemaphor Inc. Raises $80,000 in Private Placement

Chemaphor Inc. (TSX VENTURE:CFR), today announced that it has issued a total of
800,000 common shares and 400,000 common share purchase warrants for gross
proceeds of $80,000 through a private placement. 


This private placement involved the sale of units, each comprised of one common
share and one half of a common share purchase warrant, for a unit price of
$0.10. Each whole warrant entitles the holder to acquire one common share of
Chemaphor at an additional purchase price of $0.10 per share for two years from
closing. The warrants are subject to an accelerated expiry if, at any time after
an initial 4 month hold period expires, the closing price of Chemaphor's common
shares on the TSX Venture Exchange exceeds $0.20 for any 20 consecutive trading
days, in which event the holder will be given notice that the warrants will
expire 30 days following the date of such notice. The warrants may be exercised
by the holder during the 30-day period between the notice and the expiration of
the warrants.


In connection with the private placement Bloom Burton & Co. acted as
agent/finder and received an aggregate of $8,000 in cash commission and warrants
to acquire 80,000 common shares. These warrants have the same terms as the
warrants issued to subscribers in the private placement. 


The net proceeds of the proposed offering will be used to fund working capital
and research and development expenditures and for general corporate purposes. 


The securities issued under this private placement are and will be subject to
restrictions on transfer, including a hold period ending four months after
issuance. The private placement remains subject to TSX Venture Exchange
approval. This news release does not constitute an offer to sell or a
solicitation of an offer to buy any securities.


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.