Mistral Pharma Inc. announces today that, in accordance
with its stock option plan, the board of directors of Mistral has granted after
the close of markets yesterday stock options to purchase 1,968,255 common shares
of Mistral at an exercise price of $ 0.10 per share to certain officers of Mistral.
These stock options shall expire on April 12, 2011. After the issuance of these
stock options, there will be a total of 7,609,515 stock options outstanding which
represents 10% of the total number of common shares issued and outstanding.