The Medipattern Corporation ("Medipattern") (TSX VENTURE:MKI), is pleased to announce today that in connection with its brokered private placement (the "Offering") of common shares which was previously announced on May 28, 2012, Medipattern and Industrial Alliance Securities Inc. (the "Agent") have agreed to amend the terms of the Offering so that Medipattern shall now offer between 8,000,000 and 16,000,000 units ("Units") at a price of $0.25 per Unit, for aggregate gross proceeds of a minimum of $2,000,000 and up to $4,000,000.

Each Unit will consist of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.30 per common share at any time on or before the date that is 60 months following the closing of the Offering, provided that if, at any time after the date which is four months and one day following the closing date of the Offering, the volume weighted average closing price of the common shares of Medipattern on the principal market on which such shares trade is equal to or exceeds $0.60 for 20 consecutive trading days, Medipattern may accelerate the expiry date of the Warrants, in which event the Warrants will expire upon the date (the "Accelerated Expiry Date") which is 20 days following the dissemination of a press release by Medipattern announcing the Accelerated Expiry Date.

All securities issued pursuant to the Offering will be subject to a four month and one day hold period from the closing of the Offering as required by applicable securities legislation and the rules of the TSX Venture Exchange.

The Offering is expected to close on or about July 4, 2012 or on such other date as agreed to by Medipattern and the Agent. All other terms and conditions of the Offering are the same as were announced on May 28, 2012.

Medipattern plans to use the proceeds from the proposed private placement financing to provide working capital for its current business, including its focus on commercializing Visualize:Vascular™, and upon closing of the transaction with MYTRAK^® Health System Inc. announced on May 28, 2012, to expand the business unit of MyTrak Mobile Health Solutions.

The securities offered in the placement have not been and will not be registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

About The Medipattern Corporation:

Medipattern^® is a pioneer in the development of imaging software solutions that help medical practitioners to better understand lesions and critical anatomy. Medipattern uses its Cadenza™ technology to process images, finding the salient region of interest and presenting them in 2D and 3D formats that enhance the reader's perception. For more information, please visit the Company's website: [ www.medipattern.com ].

Medipattern^® is a registered mark of The Medipattern Corporation. Cadenza™ and Visualize:Vascular™ are trademarks of the Medipattern Corporation.

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.

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Medipattern Announces Amended Financing Terms

Medipattern Announces Amended Financing Terms