HALIFAX, Aug. 4 /PRNewswire-FirstCall/ -- MedMira Inc. ("MedMira") (TSX Venture: MIR, NASDAQ:MMIRF), the global market leader in rapid flow-through diagnostic technology announced today that it has obtained a $2 million secured operating line of credit with RBC Royal Bank, under standard commercial banking terms. The line of credit is secured by a guarantee from the Province of Nova Scotia. In consideration for the guarantee the Company has provided a lien on company assets. Proceeds are to be used primarily for working capital purposes including sales and marketing, manufacturing, administration, and research and development. "MedMira Inc. is a key player in the emerging Nova Scotia life sciences industry and the global rapid diagnostics market. We are pleased to support the continued growth of the Company", said Paul Grundy, Senior Account Manager with Commercial Markets-Atlantic at RBC Royal Bank. "The continued leadership position of MedMira in the international rapid diagnostic market requires that we develop mature financial and banking relationships," said Stephen Sham, chairman and chief executive officer of MedMira. "Our relationship with RBC Royal Bank, supported by the Province of Nova Scotia, will allow us to continue to grow our business, meeting the growing demand for rapid HIV tests and other innovative solutions in the world marketplace." About MedMira MedMira is the leading global manufacturer and marketer of in vitro flow-through rapid diagnostic tests. MedMira's tests provide reliable, rapid diagnosis in just 3 minutes for the detection of human antibodies in human serum, plasma or whole blood for diseases such as HIV and hepatitis C. The United States FDA and the SFDA in the People's Republic of China have approved MedMira's Reveal(TM) G2 and MiraWell(R) rapid HIV tests, respectively. MedMira's Reveal(TM) G2 and MiraWell(R) rapid HIV tests are currently used in clinical laboratories, hospitals, and clinics where professional counselling and patient treatment are immediately available. The MiraCare(TM) Rapid HIV Antibody Test, MedMira's over-the-counter (OTC) product, is available in pharmacies throughout Hong Kong and Macao Special Administrative Regions, in the People's Republic of China. MedMira delivers rapid diagnostic solutions to healthcare communities around the globe. Its corporate offices and manufacturing facilities are located in Halifax, Nova Scotia, Canada with a representative office in Beijing, China. This news release contains forward-looking statements, which involve risk and uncertainties and reflect the company's current expectation regarding future events. 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. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement. For more information visit MedMira's website at http://www.medmira.com/. DATASOURCE: MedMira Inc. CONTACT: Dr. James Smith, Investor Relations, Tel: (902) 450-1588, E-mail:

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