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FILED PURSUANT TO RULE 424(b)(3)
REGISTRATION NO. 333-17859
NU-TECH BIO MED, INC.
SUPPLEMENT NO. 1, DATED MAY 1, 1997, TO PROSPECTUS
DATED FEBRUARY 5, 1997
This Supplement relates to 15,856 options (the "Options") and 1,576,979
warrants (the "Warrants") registered pursuant to the Prospectus (the
"Prospectus", File No. 333-17859), dated February 5, 1997, filed on behalf of
Nu-Tech Bio-Med, Inc. (the "Company"). The names of the warrant holders/option
holders and the respective number of Warrants and/or Options owned by such
warrant holders/option holders are disclosed on pages 24 through 27 of the
Prospectus, and the respective exercise prices of the Warrants and Options are
disclosed in Footnotes 1 through 27 on pages 28 through 29 of the Prospectus.
On April 29, 1997, the Company reduced the exercise price of the Options
and Warrants, except Options and Warrants owned by officers or directors, to
$1.76 per share, which price is equal to 75% of the average closing price for
the Company's common stock for the ten (10) days prior to such reduction. The
warrant holders/option holders will be able to exercise the Options and/or
Warrants, respectively, at the reduced exercise price for the 45 day period
commencing April 30, 1997 through June 13, 1997. On and after June 14, 1997,
the Options and the Warrants will be exercisable at their original respective
exercise prices which range from $4.35 per share to $28.35 per share. None of
the Options and the Warrants for which the exercise price has been reduced are
directly or indirectly owned by any officer or director of the Company.
As a result of the foregoing, the information contained in the section
"Use of Proceeds" is supplemented to reflect that during the 45 day period
during which the Warrants and the Options may be exercised at the reduced
exercise price the aggregate gross proceeds that the Company may receive from
the exercise of all the warrants and options which are the subject of the
Prospectus is $1,923,390. Such proceeds, if any, will be utilized by the
Company for general working capital purposes. On and after June 14, 1997, all
of the warrants and options which are the subject of the Prospectus will be
exercisable at their original respective exercise prices which range from $4.35
per share to $28.35 per share.
