Published on September 3, 2009 at 6:50 AM
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 a non-brokered private placement (the "Offering") of 2,500,000 common shares in the capital stock of the Company at $0.20 per common share, for gross proceeds of $500,000.00 to the Company. As was the case for the $2 million raised under the same terms earlier in the summer, 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.
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.
www.medipattern.com