ALDA Pharmaceuticals Closes Private Placement for Gross Proceeds of $525,000

All securities issued with respect to the private placement will be subject to a hold period expiring on March 23, 2008 in accordance with the policies of the TSX Venture Exchange and applicable Canadian securities laws.

The Company has agreed to pay a finders' fee of 5% of the gross proceeds of $315,000 raised through subscribers secured from PROFORMA Capital Inc. of Edmonton, Alberta to be satisfied by the delivery of 82,895 common shares of the Company at a deemed price per share of $0.19.

About PROFORMA Capital Inc.

PROFORMA Capital Inc. ("PROFORMA") is a Canadian owned, innovative wealth management company that creates and provides investment solutions and advisory services for high net-worth individuals, business owners, corporations and foundations. PROFORMA offers comprehensive investment services that cover the entire spectrum of choice, including proprietary investment offerings, tax-advantaged products and customized high net-worth programs.

About ALDA Pharmaceuticals Corp.

ALDA Pharmaceuticals Corp. is focused on the development of infection control therapeutics derived from its patent-pending T36® technology. The company trades on the TSX Venture Exchange under the symbol APH.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.