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FENNEC PHARMACEUTICALS INC. Director's Dealing 2007

Mar 5, 2007

35599_dirs_2007-03-05_76a349e7-26b1-4fee-96e5-747142aa7e8b.zip

Director's Dealing

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SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ADHEREX TECHNOLOGIES INC (AMEX:ADH)
CIK: 0001211583
Period of Report: 2007-02-21

Reporting Person: MURRAY D SCOTT (SVP, Gen Counsel & Corp Secty)

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Stock Options (Right to buy) $.28 2014-02-28 Common Stock (200000) Direct
Stock Options (Right to buy) $.88 2012-12-14 Common Stock (41600) Direct
Stock Options (Right to buy) $1.2 2012-09-21 Common Stock (24900) Direct
Stock Options (Right to buy) $1.75 2010-02-12 Common Stock (30000) Direct
Stock Options (Right to buy) $1.95 2011-12-17 Common Stock (18000) Direct
Stock Options (Right to buy) $2.25 2010-12-30 Common Stock (11970) Direct
Stock Options (Right to buy) $2.45 2010-12-19 Common Stock (10000) Direct
Stock Options (Right to buy) $2.9 2011-05-21 Common Stock (8000) Direct

Footnotes

F3: The options to which this note relates are subject to the following vesting schedule: (i) 15,000 shares vesting immediately and (ii) the remaining shares vesting in three (3) equal installments on the anniversary of the Grant Date reported above.

F1: The options to which this note relates are subject to vesting in three (3) installments with one-third vesting immediately and the remaining shares vesting on the first and second anniversary of the Grant Date reported above.

F2: The options to which this note relates vest in three (3) equal installments beginning on the date reported above.

F4: Exercise price for these options are in Canadian Dollars.