VANCOUVER, Oct. 10, 2013 /CNW/ - Welichem Biotech Inc. (" Welichem" or the " Company", TSX.V: WBI) announces today the results of its substantial issuer bid, pursuant to which the Company offered to purchase for cancellation up to 23,529,411 of its issued and outstanding common shares (" Shares") at a purchase price of $0.85 per Share for an aggregate purchase price of up to $20 million (the " Offer"). The offer expired at 5:00 p.m. ( Toronto time) on October 9, 2013. Based on the final report provided by the depositary for the Offer, a total of 26,356,197 Shares with an aggregate purchase price exceeding $20 million have been deposited and not withdrawn and, as a result, 23,529,411 Shares with an aggregate purchase price of $20 million will be purchased for cancellation from all shareholders who have tendered their Shares on a pro-rata basis. The Shares being purchased for cancellation represent approximately 28.4% of the issued and outstanding Shares of the Company outstanding as of October 9, 2013 and, following the purchase and cancellation of these Shares, approximately 59,462,658 Shares will remain outstanding. The Company confirms that, as of the date hereof, the amount of paid-up capital to be allocated to each Share is $0.198 and the amount of the deemed dividend per Share is $0.652. Take-up and payment for all Shares validly deposited under the Offer and accepted for purchase by the Company will be made as soon as practicable by The Laurel Hill Advisory Group Company, which was retained by the Company to act as depositary in connection with the Offer. If shareholders have any questions related to the Offer, they can contact Laurel Hill by telephone at 1-877-452-7184 or by email at firstname.lastname@example.org. The full details of the Offer are described in the Company's offer to purchase and issuer bid circular dated August 30, 2013 which is filed on SEDAR along with the related letter of transmittal. This press release is for information purposes only and is not an offer to buy or the solicitation of an offer to sell any Shares. This document does not constitute an offer or a solicitation to any person in any jurisdiction in which such offer or solicitation is unlawful.