View:
Bontan
Corporation Inc.
47
Avenue Road, Suite 200
Toronto,
Ontario, Canada M5R 2G3
T: 416-929-1806
F: 416-929-6612
July 30,
2009
To
PRIVATE
PLACEE sent
by e-mail to all private placees and/or intermediaries acting on
their behalf
Dear Sir
or Madam:
WARRANTS
EXPIRING ON OR BEFORE JULY 31, 2009
The Board
of Directors of Bontan Corporation Inc. is pleased to notify you that they have
approved the extension of expiry date of your warrants by one year from the
current expiry date.
All other
terms and revisions thereto, as per the original warrant certificate and our
letter of December 16, 2008 remain unchanged.
The key
changes detailed in our letter of December 16, 2009 were:
|
1.
|
Exercise
price of the warrants was reduced to
US$0.25
|
|
2.
|
If
, at any time before the expiry date), the closing price of Bontan’s
common shares exceeds US$0.50 for 20 consecutive business days, then the
warrant term shall be reduced at the Company’s discretion and the warrants
will expire on the date that is 20 business days following the issuance of
a press release announcing the reduced warrant
term.
|
Please
also note that you do not have to return the certificate representing your
warrants to effect these changes.
Shares
issuable against these warrants will be free trading.
Please
contact undersigned for any questions or clarifications.
Sincerely
/S/ Kam Shah
Kam
Shah
Chief
Executive and Financial Officer