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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
Dated October 20, 1999
PHOENIX INTERNATIONAL LIFE SCIENCES INC.
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(TRANSLATION OF REGISTRANT'S NAME INTO ENGLISH)
2350 COHEN STREET
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SAINT LAURENT, QUEBEC CANADA H4R 2N6
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F Form 40-F X (commenced in calendar
--- --- year 1998)
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No X
--- ---
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): ______________
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
PHOENIX INTERNATIONAL LIFE SCIENCES INC.
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(Registrant)
Date: OCTOBER 20, 1999 By: /S/ DAVID MOSZKOWSKI
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David Moszkowski
Senior Vice President and
Chief Financial Officer
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EXHIBIT 99.1
PHOENIX INTERNATIONAL'S $56 MILLION EXPANSION ON TRACK
St-Laurent, October 15, 1999 - Speaking at a press conference today, Mr. Ian
Lennox, new Chief Executive Officer of Phoenix International Life Sciences Inc.
(NASDAQ NMS: 'PHXI'), announced that the new, state-of-the-art laboratory, which
is expected to generate up to 450 jobs over the next 5 years, is on track. The
building itself is almost complete, and over 100 new technical jobs have already
been created.
Investissement-Quebec has contributed $1,650,000 Million (CDN) into the project
and Mr. Bernard Landry, Vice-Premier, and Minister of State, Economy and Finance
visited the company on Friday. Emploi-Quebec will also contribute $250,000
towards training.
"We are proud to continue our long-standing partnership with the Government of
Quebec, which has been exceptional for both parties for over 10 years," said
Lennox. Phoenix International has grown from a small, entrepreneurial company,
to become the 5th largest Contract Research Organization in the world, employing
over 1,000 in the Montreal area and 2,400 world-wide. "Phoenix intends to
continue to build upon its solid reputation in Montreal," Lennox added, "to
become the best clinical research company in the world."
Phoenix International provides a wide spectrum of clinical, analytical,
preclinical, drug discovery support and ancillary services to the pharmaceutical
and biotechnology industries world-wide. Since beginning operations in 1989,
Phoenix International has grown to over 2,400 employees world-wide, of whom 215
have either medical degrees or PhDs and over 240 have masters degrees.
This release contains "forward-looking" statements regarding future results and
events, including statements regarding expected future revenues, earnings and
growth rates and goals and operating plans of management. Phoenix's actual
future results may differ significantly from the results discussed in the
forward-looking statements contained in this release. Factors that may cause
such a difference include, but are not limited to: the inability of Phoenix to
win new business at the levels required; the cancellation or delay of contracts;
risks associated with the management of growth and the ability to attract and
retain employees; risks of integrating newly acquired businesses; competition;
any claims for patent infringement; unanticipated costs in connection with Year
2000 conversion; the ability to obtain future financing; adverse regulatory
developments; foreign exchange rate fluctuations; and uncertainty surrounding
the Euro.
For more information, contact:
Richard Gareau, Director, Corporate Image and Communications
Phoenix International Life Sciences Inc.
Tel: (514) 333-0033, extension 4638
E-mail: [email protected]
