OBP Ondine Biomed

 
TIDMOBP 
 
Ondine Biomedical Inc.: AIM Notification 
                                    Ondine Biomedical Inc.: AIM Notification 
 
VANCOUVER,  BRITISH COLUMBIA--(Marketwire - Dec. 22, 2010) - Ondine Biomedical Inc. ("Ondine" or  the  "Company") 
(TSX:OBP)(AIM:OBP)  today  announces  that options previously granted to a  Director  of  the  Company  have,  by 
agreement  between  the  parties,  been  cancelled as outlined below, together  with  the  Director's  subsequent 
ownership  interest in the Company and the subsequent combined ownership by the Director, the Director's  family, 
and by a charitable foundation of which the Director and the Director's spouse are directors: 
 
Name                                                                                              Carolyn Cross 
 
Relationship to the Company                                                          Director, Chairman and CEO 
 
Date the transaction was reported to the Company                                              December 21, 2010 
 
Date of transaction                                                                           December 21, 2010 
 
Nature of the transaction                                                               Cancellation of Options 
 
Type of security                                                    Options to purchase common shares under the 
                                                                                    Company's stock option plan 
Number of securities: 
 Options exercisable at $15.00 each expiring Mar 28/13                                                   38,333 
 Options exercisable at $13.50 each expiring Jun 13/13                                                   26,666 
 
Total options cancelled                                                                                  64,999 
 
Price per security cancelled in this transaction                                                            Nil 
 
Nature and extent of the above's interest in the transaction                     100% direct ownership interest 
 
Number of shares held in the Company by the Director immediately 
 subsequent to completion of the transaction                                                            640,500 
 
Percentage direct ownership in the Company of the Director 
 immediately subsequent to completion of the transaction                                                  7.49% 
 
Number of shares held in the Company by the Director and 
 Director's family immediately subsequent to completion of the 
 transaction, together with the shares held by the Courthill 
 Foundation                                                                                           1,414,741 
 
Percentage ownership in the Company by the Director and 
 Director's family immediately subsequent to completion of the 
 transaction, together with the holdings of the Courthill 
 Foundation (18.75% assuming all options and warrants held by the 
 director are exercised)                                                                                 16.55% 
 
Close period                                                                                                 No 
 
Other                                                              The  above  number of securities and  number 
                                                                   of  shares  reflect the Company's recent  15 
                                                                   for 1 share consolidation 
 
 
 
For further information: 
 
Carolyn Cross, Chairman and CEO                                    Canaccord Genuity Limited, Nominated Adviser 
Ondine Biomedical Inc., (604) 669-0555                             Ryan Gaffney 
ccross@ondinebio.com                                               +4420 7050 6500 
 
 
 
Ondine Biomedical Inc. 
 

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