Business
MedMira Closes $1 Million Institutional Investment
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./ HALIFAX, June 4 /C...
About this update from Medmira Inc.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE\n\n\nU.S./\n\n\nHALIFAX, June 4 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR,\nNASDAQ: MMIRF), a global market leader in premium rapid diagnostic solutions,\nannounced today that it has received final approval from the TSX Venture\nExchange and closed the USD $1,000,000 convertible debenture with YA Global\nInvestments LP, announced on May 23, 2008.\n\n\nUnder the terms of the agreement, the debenture will bear interest of 10%\nper annum and be subject to a one-time fee of 5.5% of the debenture amount.\nThe debenture is convertible in whole or in part into common shares of MedMira\nat $.259 per share at any time during the term of the debenture which matures\nNovember 20, 2008. The debenture is repayable either by way of cash or shares\nissuable under a subscription agreement entered into by both parties on\nSeptember 6, 2005 and subject to a prospectus filed by the company on\nMarch 17, 2008. Both of these documents can be viewed at www.medmira.com and\nwww.sedar.com.\n\n\nAbout MedMira\n\n\nMedMira is a leading developer, manufacturer, and marketer of advanced\nrapid diagnostics. Built on the Company's patented rapid flow-through\ntechnology platform, MedMira's single and multiple rapid tests provide\nhospitals, labs, clinics and individuals around the world with reliable,\ndiagnosis for diseases such as HIV and hepatitis C in just three minutes. The\ncompany's tests, which are sold under the Reveal(R), MiraWell(R), MiraCare(TM)\nand Multiplo(TM) brands in global markets, have achieved regulatory approvals\nin Canada, the United States, China, Russia, India, and the European Union.\nMedMira is an approved supplier to US Agency for International Development\n(USAID) and the Pan American Health Organization (PAHO).\n\n\nIn 2006, MedMira launched the Maple Biosciences division to develop and\ncommercialize diagnostic instruments based on biosensor technology platforms.\nThe new diagnostic solutions will enable routine laboratory tests to be\nperformed in a matter of minutes, increasing automation, and streamlining the\ndiagnosis of multiple conditions and diseases. Together MedMira and Maple\nBiosciences will be leading participants in the emerging fields of\npersonalized medicine and molecular diagnostics. For more information visit...