Business & Finance
Business and Finance
Business and Finance
Fri, June 26, 2009
Thu, June 25, 2009 The Medipattern Corporation: Medipattern Closes Private Placement
TORONTO, ONTARIO--(Marketwire - June 25, 2009) -
Attention: Business/Financial Editors
The Medipattern Corporation ("Medipattern" or the "Company") (TSX VENTURE:MKI), a pioneer in the development of medical software solutions that help improve imaging workflow and productivity, is pleased to announce that it has closed its previously announced non-brokered private placement (announced on June 11, 2009) of common shares in the capital stock of the Company at $0.20 per common share (the "Offering"). Due to increased demand, the Offering was increased from 8,500,000 to 10,000,000 common shares and raised gross proceeds of $2 million. Proceeds from the Offering will be used for general working capital purposes of the Company, including the further development of its Vascular iQTM initiative and to continue building on the success of its B-CAD-FOR-LIFETM solution.
In connection with the Offering, Medipattern has agreed to pay eligible persons (the "Finders") a cash fee of up to seven percent of the gross proceeds raised through each Finder under the Offering. The common shares issued under the Offering will be subject to a four month and one day resale restriction commencing from the date of issuance. The Offering is subject to TSX Venture Exchange final acceptance of the requisite regulatory filings.
About The Medipattern Corporation
Medipattern® is a pioneer in the development of medical software solutions that help improve imaging workflow and productivity. Our first-to-market, award-winning B-CAD® advances breast ultrasound computer aided detection (CAD) by streamlining workflow and organizing information into a comprehensive patient record. Medipattern uses its CadenzaTM CAD Technology to power the digital conversion in medical communications. B-CAD automatically creates fully digital standardized worksheets and reports that make every practice more efficient, productive and ultimately more effective. For more information, please visit the Company's website at: [ www.medipattern.com ].
CadenzaTM is a trademark of The Medipattern Corporation. B-CAD® and Medipattern® are registered marks of The Medipattern Corporation. BI-RADS® is a registered trademark of the American College of Radiology.
Forward-looking statements
This document contains forward-looking statements relating to Medipattern's performance, operations, or business environment. These statements are based on what we believe are reasonable assumptions given currently available information and our understanding of Medipattern's current activities. We have tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential", and similar expressions. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or control. A number of factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements. These factors include but are not limited to those set forth in the Company's corporate filings, (posted at [ www.sedar.com ]). In addition, these forward-looking statements relate to the date on which they are made. The Company disclaims any intention or obligation to update or revise any forward-looking statements for any reason. Readers should not rely on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
