Business
MedMira Announces Draw Down of Equity Line
HALIFAX, Aug. 21 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a developer...
About this update from Medmira Inc.
[{"type":"text","content":"\n\n\n\nHALIFAX, Aug. 21 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR,\nNASDAQ: MMIRF), a developer and marketer of rapid diagnostic technology and\nsolutions, announced today that it has submitted a draw down notice for\n$150,000 to YA Global Investments LP against its equity line of credit. The\ncapital available through the draw down on the equity line of credit enables\nMedMira to support its ongoing global sales and business development action\nplans.\n\n\nUnder the terms negotiated in the equity line, YA Global Investments LP\nwill purchase common shares from MedMira at a price to be calculated based on\n96.5% of the daily volume weighted average price ("VWAP") over a 10 day\npricing period, beginning on August 24, 2009. The settlement date is September\n4, 2009. The issuance of the MedMira common shares with respect to this draw\ndown is subject to the approval of the TSX Venture Exchange.\n\n\nAbout MedMira\n\n\nMedMira is a leading developer and manufacturer of flow-through rapid\ndiagnostics. The company's tests provide hospitals, labs, clinics and\nindividuals with reliable, rapid diagnosis for diseases such as HIV and\nhepatitis C in just three minutes. The company's tests are sold under the\nReveal(R), MiraWell(R), MiraCare(TM) and Multiplo(TM) brands in global\nmarkets. MedMira's rapid HIV test is the only one in the world to achieve\nregulatory approvals in Canada, the United States, China and the European\nUnion. MedMira's corporate offices and manufacturing facilities are located in\nHalifax, Nova Scotia, Canada. For more information visit MedMira's website at\nwww.medmira.com.\n\n\nThis news release contains forward-looking statements, which involve risk\nand uncertainties and reflect the company's current expectation regarding\nfuture events. Actual events could materially differ from those projected\nherein and depend on a number of factors including, but not limited to,\nchanging market conditions, successful and timely completion of clinical\nstudies, uncertainties related to the regulatory approval process,\nestablishment of corporate alliances and other risks detailed from time to\ntime in the company quarterly filings.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this statement.\n\n\n%SEDAR: 00013053E\n\n\n",...