HALIFAX, Oct. 2, 2014 /CNW/ - MedMira Inc.
(TSXV: MIR) announced today that it has closed a CAD
$1.1 million equity investment with a
new, arm's length investor from Asia. This investment will be
used to further build up the Company's sales and marketing efforts
in its focus markets and expand initiatives in preparation for
upcoming product launches. Global interest in MedMira's rapid
testing solutions and its patented Rapid Vertical Flow Technology™
platform continues to grow, particularly in Asia, which has led to the Company widening
its investment circle in this latest round.
Under the terms of the deal the investor will acquire 22,000,000
equity units at $0.05 per
unit. Each equity unit consists of one common share and one
common share purchase warrant and is subject to a four month hold
period which expires on January 31,
2015. Each full warrant entitles the investor to purchase one
common share of MedMira at $0.10 per
share exercisable over four years.
About MedMira
MedMira is a leading developer and manufacturer of vertical flow
rapid diagnostics. The Company's tests provide hospitals, labs,
clinics and individuals with instant diagnosis for diseases such as
HIV and hepatitis C in just three easy steps. The Company's tests
are sold under the Reveal®, Multiplo™ and Miriad™
brands in global markets. Based on its patented Rapid Vertical Flow
Technology, MedMira's rapid HIV test is the only one in the world
to achieve regulatory approvals in Canada, the United
States, China and the
European Union. MedMira's corporate offices and manufacturing
facilities are located in Halifax, Nova
Scotia, Canada. For more information visit medmira.com.
This news release contains forward-looking statements, which
involve risk and uncertainties and reflect the Company's current
expectation regarding future events including statements regarding
possible approval and launch of new products, future growth, and
new business opportunities. Actual events could materially
differ from those projected herein and depend on a number of
factors including, but not limited to, changing market conditions,
successful and timely completion of clinical studies, uncertainties
related to the regulatory approval process, establishment of
corporate alliances and other risks detailed from time to time in
the company quarterly filings.
Neither 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.
SOURCE MedMira Inc.