Paladin Labs Announces Shareholder Approval of the Plan of Arrangement

 Paladin Labs Announces Shareholder Approval of the Plan of Arrangement  NEWS RELEASE TRANSMITTED BY Marketwired  FOR: Paladin Labs Inc.  TSX SYMBOL:  PLB  FEBRUARY 24, 2014  Paladin Labs Announces Shareholder Approval of the Plan of Arrangement  MONTREAL, QUEBEC--(Marketwired - Feb. 24, 2014) -   THIS MEDIA RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES  Paladin Labs Inc. (TSX:PLB) ("Paladin" or the "Corporation"), a leading Canadian specialty pharmaceutical company, is pleased to announce that an overwhelming majority of Paladin's shareholders who voted today at Paladin's Special Meeting of Shareholders (the "Meeting"), have voted to approve the plan of arrangement to effect, among other things, the indirect acquisition by Endo International Limited ("New Endo") of all outstanding shares of the Corporation (the "Arrangement"). Over 99% of the common shares of Paladin voted at the Meeting were voted in favor of the special resolution approving the Arrangement.   Completion of the transaction is subject to customary closing conditions, including, but not limited to the approval of the transaction by the holders of a majority of the outstanding Endo Health Solutions Inc. ("Endo") common stock at the Endo special meeting called for this purpose to be held on February 26, 2014 and the final approval of the Arrangement by the Superior Court of Quebec.  Paladin's application to the Superior Court of Quebec to obtain the final court order approving the Arrangement is scheduled for Thursday, February 27, 2014. Assuming court approval is obtained and that all other conditions to the Arrangement are satisfied or waived, the Arrangement is expected to become effective on or about February 28, 2014.  About Paladin Labs Inc.   Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada's leading specialty pharmaceutical companies. Paladin's shares trade on the Toronto Stock Exchange under the symbol PLB. For more information about Paladin, please visit the Corporation's web site at www.paladinlabs.com.   About Endo Health Solutions Inc.   Endo Health Solutions Inc. is a U.S.-based specialty healthcare company with business segments that are focused on branded pharmaceuticals, generics, and medical devices which deliver quality products to its customers intended to improve the lives of patients. Through its operating companies - Endo Pharmaceuticals, Qualitest, and AMS - Endo is dedicated to delivering value to our stakeholders: customers, patients, and shareholders. Learn more at www.endo.com.   About Knight Therapeutics Inc.  Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets. The TSX Venture Exchange has conditionally approved the listing of Knight Therapeutics' shares subject only to customary conditions. For more information about Knight Therapeutics, please visit www.sedar.com.  This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Corporation considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Corporation and its subsidiaries, may ultimately prove to be incorrect. Factors and risks that could cause actual results to differ materially from current expectations include, without limitation, the failure to receive, on a timely basis or otherwise, the required approvals by Endo Shareholders, the Superior Court of Quebec and applicable government and regulatory authorities, the terms of those approvals, the risk that a condition to closing contemplated by the Arrangement Agreement may not be satisfied or waived and are otherwise as discussed in the annual report as well as in the Corporation's Annual Information Form for the year ended December 31, 2012. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events and except as required by law. For additional information on risks and uncertainties relating to these forward-looking statements, investors should consult the Corporation's ongoing quarterly filings, annual report and Annual Information Form and other filings found on SEDAR at www.sedar.com.   -30- FOR FURTHER INFORMATION PLEASE CONTACT:  CST Phoenix Advisors Toll Free: 1-800-239-6813 inquiries@phoenixadvisorscst.com  INDUSTRY:  Pharmaceuticals and Biotech - Biotech, Pharmaceuticals and Biotech - Drugs, Pharmaceuticals and Biotech - Equipment and Supplies, Pharmaceuticals and Biotech - Trials  SUBJECT:  STK 
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