EX. 5
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
505 PARK AVENUE
NEW YORK, NEW YORK 10022
(212) 753-7200
April 25, 2002
Securities and Exchange Commission
450 Fifth Street, N.W.
Judiciary Plaza
Washington, D.C. 20549
Re: The Quigley Corporation
Registration Statement on Form S-3
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Ladies and Gentlemen:
Reference is made to the Registration Statement on Form S-3 dated
April 25, 2002, (the "Registration Statement"), filed with the Securities and
Exchange Commission by The Quigley Corporation, a Nevada corporation (the
"Company"). The Registration Statement relates to the resale by certain selling
shareholders of an aggregate of 1,000,000 shares (the "Shares") of the Company's
Common Stock, $.0005 par value. The Shares will be issued by the Company to the
selling shareholders named in the Registration Statement upon the exercise of
outstanding warrants.
We advise you that we have examined original or copies certified or
otherwise identified to our satisfaction of the Certificate of Incorporation and
By-laws of the Company, minutes of meetings of the Board of Directors and
shareholders of the Company, the Registration Statement, and such other
documents, instruments and certificates of officers and representatives of the
Company and public officials, and we have made such examination of the law as we
have deemed appropriate as the basis for the opinion hereinafter expressed. In
making such examination, we have assumed the genuineness of all signatures, the
authenticity of all documents submitted to us as originals, and the conformity
to original documents of documents submitted to us as certified or photostatic
copies.
Based upon the foregoing, we are of the opinion that the Shares have
been duly authorized and will be validly issued, fully paid and non-assessable
upon the exercise of the warrants, subject, however, to receipt by the Company
of the exercise price for the warrants in accordance with their respective
terms.
We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and we further consent to the reference to this firm
under the caption "Legal Matters" in the Registration Statement and the
Prospectus forming a part thereof.
We advise you that certain members of this firm are optionholders
and shareholders of the Company.
Very truly yours,
/s/ OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
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OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP