High Rider Capital Inc. (the “Company”)
TSX-V: HRD.P
Vancouver, B.C., January 8, 2009
The Company is pleased to announce that it has filed a preliminary prospectus related to its entry
into an agreement (the “License Agreement”) with TFChem S.A.R.L. (“TFC”), a
biopharmaceutical company based in Rouen, France, to licence TFC’s proprietary technology
based upon fluorinated sugar mimics (the “Technology”) for treatment of diabetes and obesity, as
announced in its press release of September 30, 2008, with the British Columbia, Alberta and
Ontario Securities Commissions, and the TSX Venture Exchange (the “Exchange”). Entry into
the License Agreement will serve as the Company’s Qualifying Transaction, if approved by such
regulatory authorities, and completion of the Qualifying Transaction will result in the Company
becoming listed on the Exchange on Tier 2. Pursuant to Exchange policy, the Company is
required to use a Prospectus as its disclosure document in connection with the proposed
Qualifying Transaction. The proposed Qualifying Transaction is not subject to shareholder
approval.
In connection with the Qualifying Transaction, the Company will undertake a private placement of
up to 6,000,000 Units at $0.15 per Unit. Each Units will consist of one common share, and one
warrant exercisable to purchase a further common share at $0.20 per share for two years from the
date of completion of the private placement. The Company will pay a commission of 10% of the
gross proceeds of the sale of Units to finders who identify purchasers for the Company. The
Company will utilize the proceeds of the private placement to fund certain of the Company’s
obligations with respect to funding of research and development and patent expenses under the
License Agreement, compound testing, general and administrative expenses and general working
capital. The private placement will be completed simultaneously with, and conditionally upon,
completion of the proposed Qualifying Transaction.
A preliminary prospectus containing important information relating to this transaction has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus may be reviewed on SEDAR. The transaction will not be completed until a receipt for the final prospectus has been issued, and Exchange acceptance obtained.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.