BOSTON, Sept. 14, 2011 /PRNewswire/ -- Spencer
Pharmaceutical Inc. (Pinksheets:SPPH). The Board of Directors and
management of Spencer Pharmaceutical Inc. have determined that it
is in the best interest of the shareholders to reject the offer
from Al-Dorra/Hail First Pharma Inc., which offer has not been
modified from the June offer. Consequently negotiations
between the parties have ceased. The Board of Directors and
management will continue to explore alternative opportunities.
Contact:
Ian Morrice
Executive Vice President and Director
Spencer Pharmaceutical Inc.
1+(617) 973-5017
Important Information
About Forward-Looking Statements in this press release
may be "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Words such as
"anticipate," "believe," "estimate," "expect," "intend" and similar
expressions, as they relate to the company or its management,
identify forward-looking statements. These statements are based on
current expectations, estimates and projections about the company's
business based, in part, on assumptions made by management. These
statements are not guarantees of future performance and involve
risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual outcomes and results may, and probably will,
differ materially from what is expressed or forecasted in such
forward-looking statements due to numerous factors, including those
described above. In addition, such statements could be affected by
risks and uncertainties related to the exploration for and
development of mineralized material, product demand, market and
customer acceptance, competition, pricing and development
difficulties, as well as general industry and market conditions and
growth rates and general economic conditions. Any forward-looking
statements speak only as of the date on which they are made, and
the company does not undertake any obligation to update any
forward-looking statement to reflect events or circumstances after
the date of this release. Information on the Company's website does
not constitute a part of this release. Although there is an offer
currently coming from a third party, the Company can provide no
assurances that the offer will be made, the timelines achieved, or
the minimum offer will be realized.
SOURCE Spencer Pharmaceutical Inc.