CALGARY, March 14, 2014 - Zenith Epigenetics Corp. ("Zenith" or the "Company") today announced that it has closed a private placement of 8,000,000 common shares at a price of US$1.00 per share for gross proceeds of US$8,000,000 (the "Private Placement") to Eastern Capital Limited ("Eastern") and NGN BioMed Opportunity II, L.P. ("NGN"). Eastern and NGN subscribed for 6,000,000 and 2,000,000 common shares, respectively. The shares are subject to a four month hold period.
After giving effect to the Private Placement, Eastern and NGN hold 19,200,000 and 8,769,339 common shares, respectively, of Zenith, representing approximately 22.9% and 10.5%, respectively, of Zenith's issued and outstanding common shares. Eastern and NGN also hold 2,048,640 and 1,683,665 common share purchase warrants of Zenith, respectively.