news release
QLT ANNOUNCES EFFECTIVENESS OF ITS REGISTRATION STATEMENT ON FORM S-3 FOR ITS AUGUST 2003 PRIVATE PLACEMENT OF CONVERTIBLE NOTES For Immediate Release January 23, 2004 VANCOUVER, CANADA—QLT Inc. (NASDAQ: QLTI; TSX: QLT) announced today that its Registration Statement on Form S-3, with respect to the resale of its $172,500,000 aggregate principal amount 3.0% Convertible Senior Notes (“Notes”) due 2023 and the common shares issuable thereunder, was declared effective on Friday, January 23, 2004, by the U.S. Securities and Exchange Commission. QLT will not receive any proceeds from the resale of the Notes and underlying common shares. This press release is published as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to buy any of the Notes or common shares issuable upon conversion thereof, nor shall there be any sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. QLT Inc. is a global pharmaceutical company specializing in the discovery, development and commercialization of innovative therapies to treat cancer, eye diseases and niche areas for which treatments can be marketed by a specialty sales force.
-30QLT Inc.: Vancouver, Canada Therese Hayes / Tamara Hicks Telephone: 604-707-7000 or 1-800-663-5486 Fax: 604-707-7001 QLT Inc. is listed on The Nasdaq Stock Market under the trading symbol “QLTI” and on The Toronto Stock Exchange under the trading symbol “QLT.”